Update: This article was written in 2022 but updated for 2023*
When it comes to the mortgage industry, one of the most difficult tasks a loan officer faces is consistently generating enough monthly mortgage leads to keep a pipeline full. Relying on traditional word-of-mouth referral marketing and developing partner relationships with real estate agents or other mortgage professionals is often not enough, especially if you are a new loan officer.
So, how do you find qualified leads? What is your best mortgage lead source? Mortgage lead companies specialize in helping you attract potential leads that are likely to convert. Here we take a look at some of the best mortgage lead generation companies and how you can choose the best one for your business.
- Understand what mortgage lead companies are and how they can help boost your mortgage lead generation.
- Compare the top mortgage lead companies and their services.
- Learn how to choose the best mortgage lead marketing company for your business.
What are mortgage lead generation companies?
Mortgage lead generation companies specialize in helping your business generate and collect qualified leads. While traditional methods of in-house lead generation can still be beneficial, lead generation companies help guide you through digitizing your lead generation in order to transform your current methods into powerful lead magnets that deliver a constant stream of leads into your pipeline. By utilizing tools such as social media marketing, online advertising, and other proven techniques, these companies work to help your business collect leads that fit your target audience and are ready and able to convert into closings.
How do lead generation companies work?
Lead generation companies work with loan officers and companies to help develop a strategy for successful lead generation. They do this by helping you analyze your target market, develop data-driven lead generation strategies, and leverage different digital marketing opportunities. They help you determine your target audience based on a variety of different factors, such as demographics and online behavior.
In the digital age, borrowers are turning more to online mortgage loan options. In fact, FannieMae reports as many as 66% of borrowers are interested in a fully digital mortgage process. For these borrowers, your website could be your best lead generation tool or your biggest waste of advertising dollars. A lead generation company will help ensure your website attracts the right audience and provides visitors with the web experience they are looking for. In addition, these powerful websites will connect directly to your CRM, allowing you to better manage your leads and follow them through the pipeline.
6 best mortgage lead companies
Not every mortgage lead company is created equally. They all offer different benefits and incentives designed to meet specific business needs. Here we look at some of the top reputable lead companies, what they offer, and some pros and cons of their services.
1. Good Vibe Squad
Good Vibe Squad works exclusively with mortgage loan officers to provide a complete Done-For-You fractional CMO (chief marketing officer) service that takes over your marketing, allowing you to focus on originating and closing loans. Their proven processes help generate mortgage leads while integrating into the automation system that walks each lead through the pipeline. They provide system training, as well as sales training, phone scripts, and high-performance consulting in order to provide you with all the tools you need to grow your business.
As a complete Done-For-You fractional CMO system, Good Vibe Squad’s Unfair Advantage service is like having your own advertising agency. This system provides everything you need including:
- Implementing hybrid automation systems
- Generating qualified leads
- High-performance coaching
- Access to their unique mastermind community
LeadPops is a unique mortgage lead generation service in that instead of focusing on simply lead generation, LeadPops focuses on every stage of your pipeline. This process helps to ensure that not only do you generate leads, but you provide nurturing to these leads throughout the pipeline. They utilize business-specific quizzes to engage potential leads, increase engagement, and find leads that match your target audience.
- Conversion Pro Website™
- Conversion funnels
- Local SEO
- Digital advertising
- Integration with your current CRM
- A partnered success coach
3. Top of Mind/Black Knight
In 2021, Black Knight Financial Services, Inc acquired Top of Mind and their leading mortgage industry CRM Surefire. Integrating the Surefire CRM with their mortgage technology ecosystem to accelerate mortgage marketing and boost lead generation.
- Surefire CRM
- Client for Life Program
- Power Messaging
- Power Calls
4. Chime Solution Suite
Chime offers a robust CRM system designed to help loan officers attract and nurture new leads. In addition, they offer a multichannel online advertising service that identifies and attracts potential leads. With this system, a potential lead views specific ads that direct them to a form. Once the form is filled out, the lead’s information comes directly into your CRM system. At the same time, the lead receives a welcome email from you, and you receive a notification of a new lead.
- Robust CRM
- Automated lead nurturing
- Optimized marketing lead generation
Founded by loan officers, Loanbright has been providing mortgage lead solutions for over 20 years. Their goal was to create a powerful advertising and marketing engine that would draw in new prospects every day. This system works slightly differently, providing loan officers with a license to log into their system and choose the best-matched leads for their needs. With Loanbright, you pay by the month and are not locked into any long-term commitments.
- Real-time lead display
- Ability to pair with local leads
- No long-term commitment
6. Mortgage Growth System
Marketing strategies used for decades in the mortgage industry just don’t have the same success as they used to. These ineffective and outdated strategies leave many loan officers struggling to generate leads. The team at Mortgage Growth System helps lenders grow their businesses through a proven combination of lead generation, cutting-edge technology, trained telemarketers, and personalized coaching.
- 100% exclusive, live, qualified, long-form leads
- Automation that segments all leads by qualification ability
- Advanced follow-up automation
- One-on-one conversion rate mastery coaching three times a week
- Optional appointment setters to handle booking your appointments
- Strategies to boost partner referrals
- Pre-approval guarantees on leads
- Month-to-month options
What does a mortgage lead generation company do for your business?
A quality mortgage lead generation company utilizes data-driven lead generation tactics and innovative technology to attract and capture new leads. In addition, they can assist you with various aspects of marketing in order to create a robust system to drive leads to you. This can include:
- Audience segmentation: Helps develop your target audience and ensure you generate high-converting leads
- Website optimization: A powerful website will help you attract the right audience while also providing an engaging web experience to the viewer.
- Targeted lead generation: Whether you are looking to generate refinance leads, foreclosure leads, residential mortgage leads, or commercial mortgage leads, a quality mortgage lead generation company will provide the tools to generate these targeted leads.
How to choose the best lead generation company for your business
When choosing a mortgage lead generation company to help your business boost leads, it is important that you ask the right questions. Some common questions can include:
- Are they industry-specific?
- Do they specialize in mortgage lead generation?
- How are leads gathered?
- Are leads exclusive?
- How are you charged?
- Do they offer a refund policy?
The best way to know if a lead generation company will work well for your business is to test it out. Many businesses offer a trial period that allows you to see just how beneficial their services are. At the end of the trial period, you can make an educated assessment. Ask yourself these questions:
- How many new leads were received?
- How many of those leads converted?
- What was your total cost?
- How much profit did the leads provide?
If the leads provided led to profit, then you have likely found the right lead generation company for your business.
The right lead generation company can make all the difference
Generating quality leads is essential for any successful loan officer and finding the right lead generation company can make all the difference to your success. Finding a quality company that is responsive, flexible, and willing to work with you is a good sign that your investment with them will provide the quality leads you need to achieve your goals.
Mortgage lead generation is our focus
At Good Vibe Squad, we focus entirely on the mortgage industry and our Unfair Advantage™ system provides a complete done-for-you fractional CMO (chief marketing officer) that allows you to focus on closing home loans. Contact our team today to book a strategy call and let us show you how we can make a difference.