Marketing For Contract Processors

Written By: John Hoxsey
Certified Master Loan Processor (CMLP)

Let’s kick up business a notch. Marketing campaigns can be expensive and time consuming but, well worth the payoff in the end. The following is a no-nonsense guide to increasing your client base. More clients mean more money, so let’s rake it in by the wheelbarrow.

First and formost, contract mortgage loan processors should consider purchasing broker leads to obtain new business (broker clients):

NAMP has partnered with Nationwide Loan Processing (http://www.loanprocessor.org) to offer broker leads to its contract processor membership base. You can download NLP's Work-at-Home Partner Program Brochure here: http://www.contractmortgageprocessor.net.

Just look at what people are saying about NLP's lead generation services:

http://mortgageprocessor.org/loan-processing/comments.php?DiscussionID=129

But if you don’t believe them, the proof is in the pudding. Turning on a good lead source like NLP will continually give you a pool of business to draw from. But there are other things you can do to get business coming in as well.

Coordinate FHA Seminars with Lenders & Title Companies:

This is a great way to meet potential clients. Especially with many brokers just getting their FHA license, many of them are not equipped to process an FHA loan. Standing in front of a room full of brokers and touting your services and educating them on the ins and outs of government loans will get your phone to ring. Be sure to collect business cards and follow up with them within a short timeframe. You can even educate yourself on FHA/VA Government loans with FHA Online University at http://www.fhatraining.org.

Start a Mailing Campaign:

Purchase a list of brokers and start a mailing campaign. Mix it up. Send postcards, brochures, and letters. Be persistent, and make sure you work the same list over and over. You should always refer back to your previous mailing. Ex: 1st attempt, 2nd attempt to contact you, 3rd attempt, etc.

Be creative. Send something like a stress ball in your mailing with the words “Don’t stress; we can help you through a challenging market!” In the marketing world they call these types of mailings “Bulky Envelopes”

Offer them something for free. For example, set up an 800 number with a message educating them on borrower credit repair, or RESPA compliance. When they call the 800 number, use a system that captures their information so you can call them back in response. If you are going to do a mailing, you should also do a calling campaign.

Start a Calling Campaign:

You can get a list of the business numbers with your mailing list or you can purchase a separate list. Either hire a telemarketer or use a call service that will automatically dial the numbers and blast a prerecorded message (that you have composed) out to the entire list.

Using call capture, setting up an 800 number, and blasting out calls automatically can be done on the cheap with many companies. The one we use is called Ring Central and can be contacted at http://www.ringcentral.com/

So if you are hurting for business, get out there and pound the pavement, blast those calls, and start that mailing campaign. If you are not, and the only free time you have is those precious hours between 12am and 6am but, you still see room for growth, then call NAMP and let them help you bring in new business.

Remember - Your reputation is your business.

Happy Processing!!!

About the Writer. As one of NAMP's volunteer writers, John Hoxsey is currently a NAMP member in good standing and is a NAMP Certified Master Loan Processor (CMLP). If you would like to become a volunteer writer for NAMP, please email us at: blog@mortgageprocessor.org.