Loan Modification Leads Facts

When I call Loan Modification companies and say "We can generate quality loan modification leads for you" 9 out of the 10 replies I get it “how much does it cost?”. Is the price per lead is only ascpect which needs to be considered before buying loan modification leads? Obviously not…. Right?

There are number of companies in the market selling these leads but all almost all of them sell same leads 3 times, recycle them again and again which affects the conversion of loan modification company. Loan Modification companies are needed to think about CPA (Cost-Per-Acquisition) rather than CPL (Cost-Per-Lead).

Let’s have a look at one example “A”
•Loan modification company “X” buys live transfer at $25 each from provider “N”.
•Company Buys 25 leads/day i.e., 550 leads a month.
•25*550 = $13750 (Total Monthly invoice)
•It takes them 35 leads to close 1 deal i.e., 550/35 = 16 closed files every month
•They charge $1500 to get the loan modified.
•Company Gets 1500*16 = 24000 out of which 13750 are paid for leads
•Company ends up with $24000 – $13750 = $10250 at the end of the month before it’s overhead, backend fees, commissions, and more.
•$10250/550 = $19 (profit/live transfers) after paying $25/live transfer

Another Example is “B”
•Loan modification company “Y” buys live transfer at $40 each from provider “M”.
•Company Buys 25 leads/day i.e., 550 leads a month.
•40*550 = $22000 (Total Monthly invoice)
•It takes them 12 leads to close 1 deal i.e., 550/12 = 46 closed files every month •They charge $1500 to get the loan modified.
•Company Gets 1500*46 = 69000 out of which 22000 are paid for leads
•Company ends up with $69000 – $22000 = $47000 at the end of the month before it’s overhead, backend fees, commissions, and more.
•$47000/550 = $85 (profit/live transfers) after paying $40/live transfer

Yet number of clients balk at $40 for loan modification lead pricing. The important take-away here, is that it is your final cost per conversion/customer. If you can "buy $25 leads all day long," that's great.. but how many dozen of those does it take you to convert a new customer?

To know more about our loan modification leads you can fill a form here or can reach us at 718-766-7824.