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2012 Loan Originator Survey – Marketing

2012 Loan Originator Survey

Survey and Analysis of the Nation’s Mortgage Loan Originators

 

Sponsored By www.streetlinks.com

 


Marketing

Loan originators generate new business through a range of sources including advertising, referrals and mortgage leads. Originators spend a good chunk of their advertising dollars online. While social media is being aggressively woven into the marketing plans of many originators, hard results from the young medium are elusive.

 

Business Sources
More than 34 percent of mortgage originators indicated that their primary source of new business is referrals from prior customers.
Nearly 34 percent generate new business primarily from realtors.

 

LO Survey 2012 Dodd Frank
Referrals from other sources such as banks and accountants was the primary source for 7 percent, while advertising was selected by 5 percent and 2 percent listed builder referrals.

Originators who rely on mortgage leads supplied by their employers represented 7 percent of respondents. Purchased mortgages leads were the main source of new business for 6 percent of the group.

Advertising
A plurality of responses — 44 percent — to the question What type of advertising do you use most? indicated that the Internet is the dominant medium for mortgage advertising.

Flyers are used most by 15 percent of originators, 6 percent put their ad dollars in newspapers, more than 2 percent utilize television and less than 2 percent invest mostly in radio advertising.

“other” listed marketing that included sending e-mails to “centers of influence,” realtor training and hosting a radio talk show. E-mail was cited several times, and other advertising choices included magazines and billboards.

Social Media
Loan officers are incorporating social media into their marketing at a brisk pace.

Linkedin is used in marketing by 54 percent of respondents to this question, while 48 percent said they utilize Facebook and 22 percent are making Twitter part of their marketing strategies.

But more than a third still don’t use social media in their marketing efforts, and findings from this survey suggest that social media has yet to prove its potency in generating mortgage production.

LO Survey 2012 Social Media

 

More than half of the respondents to the question What share of your originations during 2011 was generated through social media? said that the medium accounted for less than 10 percent of their closed loans. Nearly a quarter indicated that no originations had been generated through social media.

There were, however, 21 percent who said that between 10 percent and 24 percent of 2011 originations were the result of social media efforts, and 4 percent said that between a quarter and half of their business came from social media.


 

 


This report was co-sponsored by www.streetlinks.com
Mortgage Leads | Lead Directory
Loan leads for originators, brokers and loan officers. News about lead companies that provide exclusive refinance leads. Stories about mortgage lead generation techniques.

 

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