Net Loan Modification Branch

If you are looking for a net loan modification branch, here are some recommendations based on experience.

In my business, I deal with people in this industry every day, and have seen people fail in business in just a few months, while others continue to generate $100k+/mo income streams, though obviously personal results vary. While I do mention potential income in this article, you obviously need to do your own due diligence, and just because the numbers are mentioned here doesn’t mean you’ll make it, and the SEC would surely frown if you didn’t say you could risk a total loss. . investment and/or your time.

All of that said, foreclosures are big business right now and consumers need help. Beyond that, principal reductions have become more common, allowing for easier justification for healthy fees.

First, a big mistake when starting out is going it alone, so when looking for a loan modification net branch you are already ahead of the curve. A good established company will provide much more than just training. The right loan modification network branch should provide contracts, legal compliance, best practices, a website, service recommendations, sales training, objection handling training, product videos to reduce your time and increase sales, email marketing systems and generally experts. to answer any other questions beyond that.

One of the most common questions we receive regarding a new loan modification net branch is how to market it. In general, the people we have seen succeed in this industry have used direct mail combined with an affiliate network of sales and referral sources. Direct mail is great because title companies and certain foreclosure websites can provide specific listings of high loan-to-value foreclosure homes, so your marketing is carefully targeted. It’s up to you to test whether to use postcards or window mailers, but there’s no clear winner there. A good mailing company will have a good starting point for this.

Also, when you get the data for your sender, we recommend that you use a data management system to assign each sender a unique code, then when the lead calls, your team can enter that code to get their “file.” While this data still needs to be verified, it can help you and your phone reps appear to know all the facts, which puts the customer at ease and can therefore increase closing rates.

A good website for your net loan modification branch will do more than just be a brochure – it will create leads. Also, this is an absolutely essential component of working with referral partners, as having videos online to explain the process and its benefit makes it very easy for real estate agents, financial planners, etc. to email your videos to your customers. For those who want it, the website can be optimized for a search engine around a certain market or area, or you can run online advertising to drive people through optimized “lead capture landing pages.” to produce exclusive and free leads in real time.

Another common mistake during the sales process is not preparing the client that the banks will try to discredit you. Banks will, so say so up front and then when it happens, you’ll clearly be the expert (since you knew it was going to happen), instead of losing face because lenders want to take you out of the equation as a customer. Singles will not negotiate as hard or know what a good settlement offer is.

A net loan modification branch is definitely an easier way to get started than building a loss mitigation company on your own. Initially, focus on sales and keep expenses low, and as your team and portfolio grow, you can choose to go out on your own or renegotiate your wholesale costs to increase your margin.