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JohnE
Joined: 01 Oct 2006
Posts: 11
Location: Boston, MA
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 Posted: Oct 01, 2006 10:33 Post subject: info on trigger leads... |
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| If anyone has a good source for trigger leads please let me know. I have spent alot on internet and other leads that didnt produce results. Has anyone tried trigger leads? What kind of response are you experiencing? |
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Master
Site Admin
Joined: 06 Jul 2006
Posts: 145
Location: Sunny San Diego, California
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| Posted: Oct 01, 2006 11:44 Post subject: Re: info on trigger leads... |
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| JohnE wrote: | | If anyone has a good source for trigger leads please let me know. I have spent alot on internet and other leads that didnt produce results. Has anyone tried trigger leads? What kind of response are you experiencing? |
I'm sure you'll find what you are looking for, however, when you do shop around for trigger leads make sure they're really connected with Experian/Equifax. Lead brokers that say they can get these leads and can get them EXCLUSIVELY are lying to you b/c they're not even allowed to access these leads. Sure they can sell it but when the leads are delivered it should be an arm length away from the lead broker/provider.
Here is an inside scoop on the credit reporting compliance. When a credit reporting service is signing-up a mortgage broker to enable them to pull tri-merges (or credit reports in general), a site inspector is required to make sure the broker's workplace is in compliance (See Section 607 of the FCRA Compliance). Now, lead brokers are not allowed to pull credits because they don't have the permissible purpose. What makes you think they (lead brokers) can obtain the information contained in the trigger leads if they can't even get a site inspector to approve them? So, what's my point? I've ran across to lead brokers that are selling triggers at $9, $5 and even as low as $3 per lead. Most of these lead brokers are buying these leads from mortgage brokers. Why? Because only mortgage brokers are allowed to obtain these leads b/c they are the reason why the permissible purpose was prepared. Unfortunately for the little mortgage shops, it's way too expensive for them to obtain these leads b/c Experian & Equifax charges a $10k sign-up fee to access to these leads and they want you to commit at least $25,000 a month worth of lead revenue.
The huge mortgage shops that can afford the $10k fee and $25,000 a month commitment saw the opportunity by reselling these leads to little mom-and-pop mortgage shops. They knew that regardless if their loan business is slow, their insurance income is reselling the leads. Here's a good one for you! DiTech, Dana Lending and the monster of them all that actually started the trigger wave, AmeriQuest.
Be advised, I'm a lead broker myself and I've been pitched by many mortgage brokers in other forums (not mentioning any names but he's quite popular in other mortgage forums) if I wanted to purchase pre-1003 applications to resell to my clients. Believe me, I was tempted to do it 5 month ago but I had to hold back b/c it just didn't make sense to me. "Why would I buy leads from a mortgage broker if they are in the mortgage loan business themselves?", "Why would they sell me those hot pre-1003 apps (aka triggers) if they make more money on closing them than selling it?" and "How many times are they reselling it to meet their profit if they were to calculate it based on loan per lead?" were some of the questions that came upon.
I knew that the lead industry was heading this way therefore I did my hardcore research and really dug into the truth behind these bureau leads. I didn't want to be the middleman and be screwed for selling reharshed and beat-up leads; then in-turn upset my clients. So, I ran into a conclusion that the individuals that have full control of these pre-1003 apps (aka triggers) are your credit reporting company. Just think about it for a second, the bread and butter for any mortgage broker is leads and credit reporting.
Sure you can have that HOT ready to go borrower (i.e. with a $2 million dollar property that wants to go on a pick-a-payment plan - wow! that's a lot of money) but if you don't know what you're working with (credit screening results) then it's a full waste of time. Do you see my point?  The truth is bitter but that's the reality!
Last edited by Master on Oct 06, 2006 15:31; edited 1 time in total |
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JohnE
Joined: 01 Oct 2006
Posts: 11
Location: Boston, MA
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| Posted: Oct 01, 2006 16:56 Post subject: honest and upfront |
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| I like your upfront and honest conception. I do agree with your outcome because $3 per lead just seemed unreal from the last lead company that I spoke with re: the triggers. |
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LISA4561
Joined: 07 Jul 2006
Posts: 31
Location: Lakeland, FL
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| Posted: Oct 02, 2006 07:35 Post subject: |
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In my honest opinion, I totally disagree with this type of marketing. That makes it OK for the credit bureaus, to who you or I paid a fee to run a credit report, turn around and profit further by selling that info to someone who is going to attempt to steal that client.
Also, I am refinancing my home now, and since I pulled my own credit the phone rings off the hook and letters are pouring in about refinancing. Some of the letters even have payoff information on my current mortgage. I work for a broker so I am doing my own loan, but I never authorized these people to contact me. All of my borrowers are told upfront before I pull credit, that once I do pull credit be prepared for other offers to come in saying they can beat my rate, etc. It pisses me off to no end that the credit bureaus can get away with this. IŽll talk to them and I could probably get some of my clients to talk to them also.
Lisa |
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stevebarnum
Joined: 25 Jul 2007
Posts: 2
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| Posted: Jul 25, 2007 11:15 Post subject: |
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| What are your conditions to get a business loan? Is it possible for students to get loans? I want to start my own business but I do not have any money to start with and I couldn't get any so far. Should I worry about my business' working capital getting too big once I get started or is it a good sign of prosperity? |
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Master
Site Admin
Joined: 06 Jul 2006
Posts: 145
Location: Sunny San Diego, California
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| Posted: Jul 25, 2007 11:18 Post subject: |
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| stevebarnum wrote: | | What are your conditions to get a business loan? Is it possible for students to get loans? I want to start my own business but I do not have any money to start with and I couldn't get any so far. Should I worry about my business' working capital getting too big once I get started or is it a good sign of prosperity? |
Steve,
Of course it's possible for you to start a business as a student with no money. As long as you know how to work hard, a lot of companies are willing to help out a fellow like you. You should give me a call so I give you a few ideas to help you meet your goals.
Thanks,
Carlo
888-695-7279 x109 |
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Gordman
Joined: 01 Aug 2007
Posts: 4
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| Posted: Aug 01, 2007 14:13 Post subject: |
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| Quote: | | What are your conditions to get a business loan? Is it possible for students to get loans? I want to start my own business but I do not have any money to start with and I couldn't get any so far. Should I worry about my business' working capital getting too big once I get started or is it a good sign of prosperity? |
It looks like you had the right advice, starting a business as a student is not an easy thing but i can see you are fully dedicated to your goals and this is most important. I think being a student can be an advantage, you can start by searching for business loans and your idea can take shape along whit work and commitment. |
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Master
Site Admin
Joined: 06 Jul 2006
Posts: 145
Location: Sunny San Diego, California
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| Posted: Aug 01, 2007 14:31 Post subject: |
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| Gordman wrote: | | Quote: | | What are your conditions to get a business loan? Is it possible for students to get loans? I want to start my own business but I do not have any money to start with and I couldn't get any so far. Should I worry about my business' working capital getting too big once I get started or is it a good sign of prosperity? |
It looks like you had the right advice, starting a business as a student is not an easy thing but i can see you are fully dedicated to your goals and this is most important. I think being a student can be an advantage, you can start by searching for business loans and your idea can take shape along whit work and commitment. |
Good call, Gordman and thanks for the contribution. |
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SMANNSMITH
Joined: 22 Oct 2007
Posts: 6
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| Posted: Oct 22, 2007 14:03 Post subject: Great Trigger Leads |
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| Try TriggerLeadsDirect.com. Great customer service, pricing and they've been around for awhile. Call Jerrad at 866-501-6273. |
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zsouth
Joined: 12 Jul 2006
Posts: 10
Location: Las Vegas, NV
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| Posted: Dec 20, 2007 14:28 Post subject: |
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Cheapest Triggers with no large commitments, click below.
Mortgage Trigger Lead
BTW - We are just 3rd party resellers and not the bureau. Please do not send me your hate mail about triggers (i've already seen it all). LOL  |
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mfishy
Joined: 02 Sep 2008
Posts: 1
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Master
Site Admin
Joined: 06 Jul 2006
Posts: 145
Location: Sunny San Diego, California
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| Posted: Sep 14, 2008 21:49 Post subject: |
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Didn't Experian and Equifax stopped supplying trigger leads? |
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amandaaz
Joined: 07 Apr 2009
Posts: 1
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| Posted: Apr 10, 2009 22:19 Post subject: |
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Is it possible to get a private student loan without a credit history or a co-signer? I currently have no credit history, and no available co-signer for a private student loan. I have exhausted my availability of government sponsered Stafford loans and Pell grants. I need a private loan in the amount of around 2000 dollars to supplement the remainder of my tuition that will be paid out-of-pocket through working on nights and weekends in two jobs
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external keyword tool ~ keyworddiscovery.com ~ keycompete.com ~ compete.com ~ webmasterworld.com |
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interestonly1212
Joined: 13 Aug 2009
Posts: 1
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| Posted: Nov 21, 2009 15:19 Post subject: |
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