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mortgage pricing suite and mortgage lead management

How to Generate More Leads and Engage Borrowers Online

As the digital landscape grows more saturated for online originators, it is imperative to set yourself apart in the digital marketplace by providing fast, personalized origination services. Here’s how LoanTek Lead Management Services can offer a premium online experience for your potential and current borrowers while engaging and inspiring customer loyalty.

RateWatcher

In the digital age, there are more opportunities than ever to cross-sell and up-sell to your borrowers, but don’t leave it up to your loan officers alone to create those opportunities. Let a digital tool do the work for you. With a set-it-and-forget it tool like RateWatcher, you can monitor loan rates and contact your potential and current borrowers with opportunities to improve their loan terms. RateWatcher automatically notifies the loan officer and borrower once a desired rate is achieved. Take it from us, both your borrowers and loan officers will be grateful for the reminder.
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mortgage pricing suite and mortgage lead management

As the Federal Reserve Prepares to Remove Economic Support, What’s Next for Mortgage Originators?

During the 2008 financial crisis, the Federal Reserve took two bold steps to boost economic growth. First, they dropped short-term interest rates to zero. Second, they purchased trillions of dollars in U.S. Treasury and mortgage-backed securities to drive down overall interest rates. Now, as job growth soars and economic growth remains modest but steady, the Fed plans to raise short-term interest rates and pare down on their current $4.5 trillion in assets, a process it calls “balance sheet normalization.”

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Want to Join the Top 10% of Mortgage Originators? Create a Digital Strategy and Execute It

Create a digital strategy and execute it. It sounds simple enough, but according to LoanTek CEO, Adam Stein, only the top 10% of mortgage originators have a digital plan and execute it. Digital strategy planning can seem overwhelming, and there are countless choices to make when creating and executing a digital plan. But the most important choice is choosing to plan, create, and execute one. In this blog, we will explore what it takes to join the top 10% of mortgage originators by creating and executing your digital strategy.
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crm tool and mortgage solutions

Negative Stereotypes of Millennial Home Buyers Could Cost You Business

The largest home buying demographic the United States is currently in the crosshairs of marketers in every sector. You can’t throw a rock without hitting a “how to reach millennials” editorial (including on this website). While we all wonder what is the secret to attracting this enormous collective of purchasing power, there are also a plethora of negative stereotypes about millennials.

Millennials are often referred to as narcissistic, lazy, and entitled. They are the generation created by helicopter parenting and participation trophies. However, many of these claims exist without any data to support them. Negative stereotypes are a danger to your origination business, because you risk pandering or talking down to the group that you need to connect with most if you want to survive the next home buying era. In this blog, we will discuss how to use generational data without allowing it to use you.

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How to Help Millennials Get the Most Out of FHA Mortgages, Part 2

How to Help Millennials Get the Most Out of FHA Mortgages, Part 2

What is FHA’s “total package”?

First look to your millennial clients’ down payments. FHA’s minimum of 3.5% is low, but Fannie Mae and Freddie Mac have programs requiring just 3% down. So what drives 35% of millennial homebuyers to opt for FHA mortgages?

As The Washington Post’s story of Barron and Kim’s mortgage-shopping logic makes clear, without help from their parents or other family members the vast majority of millennial buyers simply don’t have enough down payment cash for a home—even when the down payment is as low as 3%—plus extra savings to cover closing costs and post-closing money left over in the bank as reserves. In addition, shareholder-owned lenders such as Fannie Mae and Freddie Mac all come with a variety of eligibility requirements, such as income cutoffs.

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