How to generate leads for mortages?

Question

Im being mentor by a loan officer on how to become a loan officer. I'm generate my own leads , how can I do this?

Answer 1

There are several legal ways to do this, Cold calling, direct mail, radio, newspaper, TV, etc. But, If you are going to call people offering options for refinancing you can only originate loans if you have a Mortgage License. Other better ways are organizing workshops, seminars, where you can actually help & educate people on residential financing. This will be rewarding as well and a great way to generate loans for those who qualify.

Answer 2

Find a young ambitious Realtor who has not already hooked up with a lender. You could also try and convince some of the older Realtors to give you a shot as well.
Realtors should be your best friends if you want to be a successful mortgage broker.
Good luck in the business.
RE Agent,
Remax

Answer 3

You need a good a network of prospective buyers. My friend is a manager at a mortgage company. He knows alot of realtors in the business and they refer him work. The first step is to work for a reputable company that looks out for the interest of its customers and then network yourself with alot of realtors. He refers them leads and they do the same. Cold calling is a waste of time and you will be calling hundreds of people before you get someone interested.

Answer 4

A lot of good answers. Like any other sales job, networking is the key. There are hundreds of thousands of other LO's out there so you will need to bust your butt to convince people to get on board with you. You can also approach collection agencies about getting leads from them.

Answer 5

Get a really annoying automatic dialing program that calls people up and interrupts their dinner with offers of incredible refinancing opportuinties . ... no, wait, you must have already done that.