Sudip C's (loanmodleads) Blog

What does Obama's current Foreign Policy mean for US mortgage markets

Sudip C (Mkscope) — Tue, 07 Jul 2009 08:21:36 -0700

Obama has completely awed his critics and freinds alike during his recent visit to muslim world and Russia. Some excerpts from Cairo ".......I am honored to be in the timeless city of Cairo, and to be hosted by two remarkable institutions. For over a thousand years, Al-Azhar has stood as a beacon of Islamic learning, and for over a century, Cairo University has been a source of Egypt's advancement. Together, you represent the harmony between tradition and progress. I am grateful for your hospitality, and the hospitality of the people of Egypt. I am also proud to carry with me the goodwill of the American people, and a greeting of peace from Muslim communities in my country: assalaamu alaykum. We meet at a time of tension between the United States and Muslims around the world - tension rooted in historical forces that go beyond any current policy debate. The relationship between Islam and the West includes centuries of co-existence and cooperation, but also conflict and religious wars. More recently, tension has been fed by colonialism that denied rights and opportunities to many Muslims, and a Cold War in which Muslim-majority countries were too often treated as proxies without regard to their own aspirations. Moreover, the sweeping change brought by modernity and globalization led many Muslims to view the West as hostile to the traditions of Islam........." you can find the full text and video here www.whitehouse.gov/blog/NewBeginning/ Some excerpts from Moscow To begin with, let me be clear: America wants a strong, peaceful, and prosperous Russia. This belief is rooted in our respect for the Russian people, and a shared history between our nations that goes beyond competition. Despite our past rivalry, our people were allies in the greatest struggle of the last century. Recently, I noted this when I was in Normandy -- for just as men from Boston and Birmingham risked all that they had to storm those beaches and scale those cliffs, Soviet soldiers from places like Kazan and Kiev endured unimaginable hardships to repeal -- to repel an invasion, and turn the tide in the east. As President John Kennedy said, "No nation in history of battle ever suffered more than the Soviet Union in the Second World War." So as we honor this past, we also recognize the future benefit that will come from a strong and vibrant Russia. Think of the issues that will define your lives: security from nuclear weapons and extremism; access to markets and opportunity; health and the environment; an international system that protects sovereignty and human rights, while promoting stability and prosperity. These challenges demand global partnership, and that partnership will be stronger if Russia occupies its rightful place as a great power. for full text see here http://www.whitehouse.gov/the_press_office/REMARKS-BY-THE-PRESIDENT-AT-THE-NEW-ECONOMIC-SCHOOL-GRADUATION/ IMPACT on Wall Street and US Mortgage Market Am sure the confidence among people all around the world is going to buoyed by this historic speech given by OBAMA.the other important aspect which we can divulge from OBAMA's recent speeches ...is that he is very clear on his thought process.Instead of following his predecessors who kept on pushing the world towards a nuclear wat ...first with russians and then with Iraq ,here is one presidents who understands the value of co-operations and collabaration . I think if Obama can pull this off with muslim countries and Russia ,a lot of tax-payers money is gonna spent on poverty eradication and for solving the mortgage crisis . So we wait and watch as to how Obama leads mortgage industry out of trouble

would we see another Refi boom in coming months???

Sudip C (Mkscope) — Sun, 05 Jul 2009 23:09:14 -0700

Now thats a very difficult question.But with the obama government trying all it can to keep rates down .....its not impossible even. Analyze this for yourself Over the last few months, the Treasury has decided to auction bonds which saturates the market and pushes bond rates down. When that happens ,it will also show for mortgage rates.....as in we have always seen a direct relationship between treasury bonds and mortgage rates. The Federal Reserve is also helping to keep average mortgage rates low by buying up trillions of dollars in mortgage backed securities. President Obama is willing to do whatever it takes to keep daily mortgage rates low in hopes of helping the overall housing market. But in the last few days we have seen a upward trend in treasury rates ,so until and unless we have some drastic steps taken by Fed or the government ,possibility of mortgage rates going up is just on the horizon. Also in a long run ---if the markets are setting the rates ,it beneficial for the whole of housing markets. For mortgage leads and loan modification leads call 6166222456

Are Banks responding well to homeowners in distress?????

Sudip C (Mkscope) — Sun, 05 Jul 2009 22:55:22 -0700

A recent report from the National Foreclosure Mitigation Counseling Program indicates that homeowners are waiting, on average, 45-60 days for responses to requests for help. Other homeowners have found servicers reluctant to make meaningful changes to the terms of their mortgages despite advertised participation in the Administration’s foreclosure prevention initiatives. Recently Senators Jack Reed (Rhode Island), Chris Dodd (Connecticut) and a few more senators urged Treasury Secretary Timothy Geithner to develop and implement a strategy requiring banks and loan servicers participating in the Administration’s foreclosure prevention programs to effectively respond to qualified homeowners seeking assistance. The senators also showed concerned towards the huge number of option arm's resetting during the next 4 years. the test of the letter sent can be seen here on this link leads for loan modifications

Loan Modification Leads Discount Sales

Sudip C (Mkscope) — Tue, 23 Jun 2009 23:35:04 -0700

We are offering 20% discount on our prices for Loan Modification Leads during the 1st week of July (1st July- 5th July) These discount sales are in view of Indepence Day Specials we have each year.So hurry and sign up with us to avail this offeer and to save distressed homeowners live again their American Dream .

Banks Repaying their TARP Money

Sudip C (Mkscope) — Wed, 10 Jun 2009 22:22:10 -0700

On 9th June US treasury announced that around 19 banks would be repaying there TARP money.Though it didnt disclose the names of the banks ,but a few intelligent guesses would include the likes of Goldman Sachs,JP Morgna and AMEX to name a few. So does that mean US economy is bouncing back to normal.Has the crisis hit the bottom? Well thats a million dollar question to be answered (in fact with current bailout plans and accrued losses -its a trillion dollar question ) :-) Coming back to the topic of repayment of TARP money ,around 19 banks have been granted permission to buy back the warrants that the Treasury holds in each company at “fair market value.” These 19 banks are in addition to 22 smaller institutions which have already repaid their TARP dollars to the Treasury. While some analysts are calling this a sign of stabilization in the banking system ,the critics are arguing that what are the possibilities of these banks not asking for more funds in near future.They go on the explain that the current stress test(the basis of which these banks are being allowed to repay their TARP funds) assume a national unemployment rate of 8.9%. Now at 9.4% and accelerating; they believe that banks should be reassessed under worsening conditions. What does this mean to the Loan Modification Industry ? We would need to wait and see what impact it has on the Loan Modification Industry ? But one thing is for sure ,with banks no longer being involved with TARP money ,their obligations towards distressed homeowners and treasury are bound to become less focussed.There are questions being raised as to why would a Bank who has payed TARP money ,try to implement OBAMA bailout plan. This arguement sounds as a double edged sword for the homeowners,though it may seem to them that the OBAMA goverment has done enough to bail them out ,but in reality they wouldnt qualify for loan modification programs of the banks who are bound to be a bit more stringent. This would surely give rise to more generation of loan modification leads and loan modification attorneys and brokers are bound to get more business in coming days.

Is there anything as exclusive Loan Modification Leads ?????

Sudip C (Mkscope) — Sun, 24 May 2009 18:36:25 -0700

I am sure a lot of you Loan Modification Leads Buyers will be having this question . Even a lot of Loan Modification Lead sellers might also be thinking as to how to position there leads as exclusive loan modification leads and charge a premium for it. I will try and put in few of my experiences and thought process in answering this question ,but i m sure that there can be a lot more insights which can be shared by my peers in the industry who can enhance the quality of the answer. Honestly ,there cant be a totally exclusive lead in the real-estate industry ,because anybody who is looking for buying a home ,or wants to refinance or wants to modify his loans ,wont just contact one company or fill up a form on a single website ,as he needs various inputs to take a decision on his valuable asset of his life (his Home).So if any lead company is assuring you that they would provide leads which only you would have access in blatantly false. What is possible though is,they are providing you the leads as an exclusive only.Meaning they dont sell those leads to any broker. Another simple fact which should tell you about the truth about exclusive leads is the price they are being sold for . A average cost of generating a Loan Modification Leads after deducting the return costs and bad leads cost is anything around 40-50 USD.This is the total cost to the lead company to generate a single viable lead.Add another 20-25% as profit margin and the cost goes upto 63 - 65 USD. Similarly if they want to sell it 3-4 times ,its costs would be anything around 18-25 USD .So any lead company which is wanting to sell a exclusive loan modification leads below 50 USD is actually bluffing away.So pricing of the loan modification leads should give you a fair idea about the exclusivity of the lead. Another imp factor to check for exclusivity of loan modification leads is to check their lead generation process ,most of the telemarketing companies normally use rehashed data which again brings down the exclusivity of the leads. Im sure there are more ways to check exclusivity ,and i encourage my peers to write their valuable comments thanx

Obama Plans and Impact on Loan Modification

Sudip C (Mkscope) — Mon, 11 May 2009 00:33:33 -0700

President Barack Obama has introduced a $75 billion homeowner relief program for the distressed homeowners.The plans pertain to mainly 2 different segments of homeowners :- Homeowners who have a conforming mortgage and have not fallen behind.These homeowners might very well qualify for a lower rate refinance. Homeowners who have a subprime loan (ARM) ,may be able to qualify and get their payments modified. Now what does it mean for Loan Modification Companies :- In view of Obama's homeowner relief program ,they now have a increased prospect base of people who might very well qualify for a refinance or loan modification program. Plus the recent initiatives taken by Obama ,would have increased the awareness about loan modification programs. So you would get a lot more prospects ,who might not have defaulted but are facing hard financial times - looking forward to such loan modification deals.A Loan Modification company can mainly use either of these 2 strategies to increase the Lead Flow in their organizations Increase Direct Mailers to previous prospects who might have been turned down by their lenders. Buying quality Loan Modification Leads from genuine lead companies . I look fwd to more inputs from my peers in activerain. Sudip

loan modification seo visitors comparision

Sudip C (Mkscope) — Sun, 09 Nov 2008 03:12:29 -0800

Below is the graph of people who visited my website for loan modification leads from adwords,wannanetwork and activerain Now if you carefully see ,the traffic from wanna network and active rain are quite similar ,but average's 50% less than the traffic from google adwords. Well that can be expected considering the number of search queries in google. I m now waiting for the conversion ratio from the leads generated. Another important aspect ,which i noticed here was - the sudden increase in traffic in AR and Wanna Network have mostly being after i have made a blog post or furm post in one of them. All feedbacks and comments arre appreciated . for details about search engine optimization for loan modification

Adword VS Active Rain and new inclusion Wannanetwork

Sudip C (Mkscope) — Fri, 07 Nov 2008 09:47:17 -0800

OK ...continuing with my last post ...on the discussion as to which one of the above mentioned is more cost effective ...i got one more insight....I spoke with few people who have been doing SEO for loan modification ...and they mentioned me ..about wannanetwork.com .Acccording to them Wannanetwork forum povides more traffic in organic search then the other two. So instead of coming to a standard ....i m now more confused regarding the best way to generate leads for loan modification .

Loan Modification - Google adwords vs AR pay per 1000 Imp

Sudip C (Mkscope) — Mon, 03 Nov 2008 05:56:55 -0800

Interesting Debate Well I would just jot down the basics of both the methoddologies and would look forward for more inputs from all members and as well AR support guys. Since a lot of real estate and mortgage guys have got into loan modification in recent times ....this discussion may be very useful for their online marketing tactics. So what is Google adwords --pay per click workflow ...herein you select keywords and then bid on a amount per click. In AR pay per 1000 impressions ---- herein you dont bid on keywords but rather on geographic areas ,specific user groups, members or non-members or all users on all pages.On the first look this might just sound like the old banner advertising system ......NOPE it is not ....Active rain bid per 1000 impression is more targetted and many user pages have high page ranks and Google search engine rankings.Also all the pages are tagged with some specific keywords and some even have twitter feeds..... So what does this all mean ----- you get a lot more at a lower cost than google adwords . This is just an assumption im having now.I will working more intensely on it during the week.Valuable comments and replies are invited.I will be taking the example of loan modification keyword and industry to work out numbers in this week. if anybody wants to check more details for loan modification leads seo

Loan Modification Live Transfers - 100% Contact Ratio

Sudip C (Mkscope) — Sun, 02 Nov 2008 23:25:05 -0800

Loan Modification Live Transfers With the loan Modification market ,getting hot -lot of lead companies are providing loan modification internet leads and also voice broadcast leads.Though the leads quality is not so bad as Mortgage Refi leads in the past but still Loan Modification Internet Leads are having a lower contact ratio for the loan modification specialists. So how does Loan Modification Transfers solve this problem.Live Transfers have always been the answer to less than 40% contact ratio in leads.Herein the loan mod specialist can speak to a distressed homeowner while the homeowner is still on phone with lead verifier.The live transfer technology also enables the homeowner to feel more comfortable ,as they can speak to the loanmod specialist while they are on the phone. This in return reduces the chances of the homeowner filling up n number of online forms and answering to TV and Radio ads. So here is the criteria which we follow for live transfer leads 1. 100k Minimum Loan Amount 2. Minimum 60 days late 3. Maximum debt to Income ratio < 55% An additional verification filter implemented here -: Customer should be in a position to pay 1.5 times or 2 times their current monthly payments as processing fees if the modification deal is successful to the Loan Mod Specialist. For exp- if somebody is unemployed he is not qualified until unless he has some other source of income he specifies. For more info contact sudip or walter at 323-372-2912 Loan Modification Leads

KYC (Know your Customer)- Before you sell leads

Sudip C (Mkscope) — Thu, 23 Oct 2008 09:07:09 -0700

With leads which is such a intangible product/service ,its quite important to know your customers before you sell any leads to them.I am writing about this ,as i learnt it the hard way and had to suffer. A client of mine wanted Loan Modification Leads for CA and FL .All he had mentioned in his requrement was that all leads should have : 100k or more balance 60 days late I found that good enough and decided to sell leads to him at 12 USD a piece. What i didnt ask him was : His experience in the Loan Mod industry His current employer And foremost his expectations He bought 20 leads from me ,and just couldnt convert even one.Moreover he hadnt contacted even 80% of the leads,within 4 days he asked for a full refund.I had to pay him the full amount though i had given him 20 leads.He just gave feedback for 10% leads. I learnt it the hard way : FOR LOAN MODIFICATION LEADS - Impeccable Replacement Policy and sound knowledge of customer's background is a must. My client was a ex- car's salesman with no exp in loss mitigation or foreclosures.He had just joined the loanmod bandwagon. Its always good to learn from experiences but it pains to learn from hatd ones.

Loan Modification Leads and Government's USD 700 bn bailout

Sudip C (Mkscope) — Mon, 29 Sep 2008 04:42:01 -0700

After a long time ,credit crunched homeowners can see a ray of hope on the horizon.With the US legislators passing the 700 bn bailout package ,lot many homeowners are going to benefit from the loan modification programs. Would Modifying loans became more easier? THE ANSWER IS YES Since the government will be taking ownership of a number of subprime and other troubled mortgages that could be facing foreclosure, the government will have more power to influence loan servicers to modify the loans. Modifications may include rate adjustments, term extensions, or writedowns. Does this means we see a huge spike in the number of closed loan modification deals? YES why not ,with more relaxable terms and conditions ,more and more servicers will now need to modify existing loan deals. Is this a good time to buy loan modification leads ? Yes There cant be any better time,which lower risk involved and the profits being high enough ,I do advice more and more mortgage brokers and loan officers to get into loan Modification Industry.All you need to do is tie up with a nationwide loan modification and select a good leads provider for loan modification leads. For more info check www.perfectnetbranch.com and www.mkscope.com

Loan Modification Leads - A Insiders' Perspective

Sudip C (Mkscope) — Thu, 28 Aug 2008 11:59:10 -0700

Here is just a small brief about the loan modification industry and exactly how the lead providers are coping up the demand. The Loan Modification Industry - Till Jan 2008 ,it consisted mostly with loss mitigation specialists and real estate attorneys who have been providing these services for years.Suddenly during the early 2008 ,with the subprime crisis deepening a lot of mortgage brokers and loan officers have moved into this industry.This happenend primamrily because of the lesser number of loan originations and the rising foreclosures in United States.There were also other people who jumped in this band-wagon---- specially the debt settlement companies and the real estate professionals who saw this as a opporunitity of lifetime. This was one of the major factor which saw surge in the demand for such leads.The other factor which had a multiplier effect on the first one was the tougher lending criteria by the top banking institutions.This led to lesser loan originations and more mortgage brokers closing shops and joining the loan modification band wagon. To explain the above let me show you a simple example - : Lets suppose we had a total 1000 mortgage brokers in US in Dec 2007 and 100 Loss Mitigation Specialists. Assuming a Single Loss Mitigation Specialists consumes around 120 leads a month ,the demand in the month of december would have been 120*100= 12000 leads per month. Now as per mortgage industry statistics every month from January 2008 around 15% of mortgage brokers have closed their shops and assuming 20%(conservative figure) of them get into loan modification it would mean every month we have increased demand .from our above assumption it would mean In Month of january - 20% of (15% of 1000 )= 30 more loan modification professionals In month of feb - 20% of (15% of 850) = 25 more loan modification professionals So in 2 months we have a increased demand of around 30*120+25*120=3600+3000 = 6600 leads So in the month of march we would have required 18660 leads per month minimum plus the increased demand for the month of march.Or in other words we have the loan modification industry which is growing at a rate of around 55% per month. So how exactly is the loan modification leads industry coping up with the demand. Well its a bad scenario here - the supply of loan modification leads are still very low.A lot of the major players of the mortgage lead industry havent yet opened there portfolio for loan modification leads.We dont have either lendingtree or leadpoint providing loan modification leads.Some of the major players in loan modification industry right now are Bestraterefferals ,Mkscope.com,Bigmortgageleads(wisdom group),Mortgage Leads Network ,1003 leads and current inclusion of companies like Leadbull and eleadz. We also do have companies like Direct Contact Marketing Group and icreditleads but these companies are more into supplying mailing and telemarketing lists than providing leads. I have myself spoken to Ted from Mortgage Leads Network and Todd from 1003 Leads and there current production ranges from 100-150 leads a day or approx 3000 leads a month.My own company mkscope.com generates around 75-100 leads per day and companies like leadbull,bestraterefferals and bigmortgageleads say they generate around 100 leads a day.So we have a total production per day ranging 500-600 leads per day or 15000 a month or 180000 a year. According to the recent research data -we have around 2 million people signed up in foreclosures or who have got a notice of defaults and its expected to rise upto 5 million by mid 2009.So its a miniscule percantge of the total prospects whom all top companies are generating currently.This is still a very open market and it would really do a lot of distressed homeowners a great favor if more and more companies focus on loan modification. I would invite valuable comments from other bloggers as to how we can increase production and as to how we can share knowledge to make "Loan Modification Leads" a very profitable industry niche. Mkscope provides Live Transfer Loan Modification Leads for loss mitigation specialists and loan modification companies. contact me for more lead generation advice sudip@mkscope.com or call 3233722912