NMP - July 2018 - 18

✒

Be a
Trend Setter

R

ates are increasing, which means there is a
shift occurring from a refinance market to a
purchase market. Every time rates go up, the
industry moves to a purchase market. Fact:
They are rising again. And, it might be a while
before the housing market increases enough
for another refinance boom.
The difficulty is that there is really no way to tell when
someone is "interested" in purchasing anything. It's a thought,
and it cannot be read ... yet. So, the real question is: How do
you find people who are genuinely interested in purchasing a
home?
The simple answer is ... online marketing. Search engines
use closely guarded algorithms to determine the results that
are displayed. With millions of people performing millions of
searches each day to find content on the Internet, it makes
sense that marketers want their products to be found by
potential consumers. What this does for you as a mortgage
professional is help you find people who are genuinely
interested in purchasing a home.
The solution to this key problem is generating your own
exclusive leads. This process produces a lead that is
interested in purchasing a home, and is qualified to buy a
house. One of the best parts about this new style of
marketing is the versatility that it offers. Depending on how
you best close new business, you can get a quality lead that
closes at higher rate ... producing closed loans in your area at
profitable acquisition costs.

JULY 2018 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

18

TagQuest customer spotlight
Each month, we talk with our clients to see how their
campaigns are performing. Here's what we heard from Alfred
Valentine, a Manager, and Jim Cefaratt, a Senior Loan Officer,
with Acre Mortgage.
l USDA purchase leads
l First month results: Sixty leads, 13 applications, six closed
loans and eight more qualified loans in process
l Response rate: A 23 percent projected closing ratio
Highlights of the campaign ...
"TagQuest has the knowledge and tools to help you grow
your business," said Valentine. "The CRM is the best I've ever
seen, limiting wasted time and lost leads. TagQuest is not
looking out for their own best interest, they focus on our
growth and bottom line as well. Others would benefit from
their attention to detail and concern for providing the best
possible marketing strategies.
"The beauty of this program/campaign is that everything
comes directly to you via e-mail," said Cefaratt. "As soon as a
Sclient clicks on to our site and fills out the very brief
questionnaire of interest, it gets sent directly to your e-mail so
you can access their information wherever you are."

TagQuest Inc. is a full-service marketing firm specializing in
marketing for the mortgage industry. Call (888) 717-8980 or
visit www.tagquest.com.

IMAGINE * INNOVATE * SUCCEED
SPONSORED EDITORIAL

new to market

continued from page 13

compute its own operational
cost of residential mortgage
loan origination and compare
that to PFS's outsourced
solution.
The Cost Savings Calculator
requires only a minimal amount
of information: Number of loan
units the institution originates
per month; number and annual
salary of full-time loanproduction staff (processors,
underwriters, closers and
administrative staff); and the
number and annual salary of
support staff (compliance/legal,
secondary marketing and
technology).
The Calculator enables the
institution to calculate its own
cost of origination and shows
what a similar cost would be if
PFS managed their fulfillment
process. The calculator only
focuses on operational costs
once the loan has come into the
institution and does not factor
in loan officer compensation,
because it assumes the client
will continue to prospect for the
loans. In addition to the cost
analysis, the calculator will also
identify areas of the operation,
such as compliance, which may
be under-staffed and could
create potential compliance
risks.
"The Mortgage Bankers
Association publishes a wealth
of data on the cost of
origination, and today the
average is above $8,000 per
loan, when LO compensation is
factored in," said Ken Janik,
Head of Operations,
Promontory Fulfillment Services.
"But these are averages and
they may or may not be the
right benchmarks for different
sized banks with different
overhead structures and
business models. Our calculator
uses each institution's own
numbers and instantly delivers a
client-specific answer."
Bruce Witherell, Chief
Executive Officer of Promontory
Mortgage Path said, "In the last
few months, we have seen a
number of mid-tier banks exit
the mortgage origination
business because they couldn't
justify the low margins or stand
the cyclicality of mortgage
lending. Our new calculator lets
executives do their own math,
and in minutes, come to their
own conclusions about their
true processing costs. They can
also see how they can
competitively continue to offer

mortgages as a product without
maintaining a mortgage
operation."
Guild Mortgage Aims at
Manufactured Homes With
New Offering
Guild
Mortgage
has
announced
that it is
ready to
offer loans for Fannie Mae's MH
Advantage initiative, a new
mortgage program for
manufactured homes with
comparable features to traditional
single-family homes.
Offered in conjunction with
Fannie Mae, MH Advantage
provides homebuyers with a highquality, flexible mortgage option
that can deliver significant costs
savings when compared with
financing for traditional
manufactured homes.
Manufactured homes that
qualify for the program can
include custom amenities, such
as attached garages, upgraded
kitchens and bathrooms, energy
efficient appliances and
architectural features that help
the property blend into an
existing community or
neighborhood.
Available to qualifying
borrowers in all 50 U.S. states,
the MH Advantage program from
Guild features a downpayment as
low as three percent. The
program offers 30-year fixed rate
financing with interest rates lower
than most traditional
manufactured home loans and
cancellable mortgage insurance.
It can also be combined with
Fannie Mae's HomeReady
mortgage for qualifying
customers.
"There is an increased interest
in manufactured housing
throughout the U.S. because of
current housing shortages, both
in the resale of existing homes,
and future inventory based on
forecasts of new housing starts,"
said Mary Ann McGarry, Guild's
President and Chief Executive
Officer. "Guild has been one of
the top originators of loans for
manufactured homes for some
time and we are pleased to offer
this new MH Advantage program
with Fannie Mae. It comes at a
critical time when many potential
homebuyers are priced out of the
market. This gives them a highcontinued on page 25


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Table of Contents for the Digital Edition of NMP - July 2018

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