Los Angeles-based Reverse Mortgage Directory LLC (RMD) has added new lead filters geared at increasing lead quality and client productivity.
RMD provides reverse mortgage information for seniors through its Web site, www.ReverseMortgageAdviser.com. Interested borrowers are then connected to a reverse mortgage specialist who services that market.
‘Over the last three years, we have made many improvements to our lead program – all aimed at increasing lead quality and client satisfaction,’ says Gretchen Williams, director of sales and client relations with RMD.
In July 2009, the company partnered with TARGUSinfo to verify lead contact information. The most recent program improvement stemmed from the U.S. Department of Housing and Urban Development's announcement to lower the principal limit factors for the Federal Housing Administration reverse mortgage program. The change lowered the principal limits for the home equity conversion mortgage (HECM) by 10%, affecting eligibility for many borrowers.
"The LTV filters we have put in place allow us to identify and invalidate those leads that are ineligible so that our clients can spend more time focusing on the highest quality leads possible," adds Williams. "We have seen significant improvements for our clients, in particular those in areas hit hardest by the declining housing market, since those areas were also the hardest hit by the lowering of principal limit factor."
SOURCE: Reverse Mortgage Directory