HARP Refinance Leads Surging In Popularity

With the new HARP 2.0 guidelines off the press, HARP Refinance Leads have gained traction. We’ve fielded a lot of feedback from frustrated mortgage marketers that had a difficult time converting HARP Refinance Leads under the original program guidelines because the applicant was sinking in their underwater homes and disqualified for the program. Our philosophy is an application that is unfunded is a total waste of time, and so our focus is on arming mortgage marketers with Pre-Qualified HARP Refinance Leads, using a soft credit inquiry on the borrower’s credit report. Generally, what we will be looking for is a set of characteristics to pre-screen those homeowners for eligibility in the HARP Program.

Criteria to select when building a list of HARP Refinance Leads:

• Fannie and Freddie as investors in the loan
• Conforming loan limits apply – no jumbo loans
• Loan Origination Dates from June 1, 2009 and prior
• Exact credit scores 640+, or customized to your lenders’ guidelines
• Unblemished mortgage payment history (no delinquencies in the last 12 months

Of course, the above selections are not exhaustive, and we can build a database of HARP Refinance Leads using myriad demographic, credit and mortgage filters available through our pre-screened, tri-bureau consumer credit platform.

For Loan Officers using HARP Refinance Leads:

If you work directly for the lender, there is a lucrative opportunity in searching our database for your existing borrowers. This can be accomplished by selecting your lender name and then using the homeowner’s partial SSN to pull up their internal file. This is a unique opportunity because the borrower has already done business with you and will be receptive to your mailer or phone call that informs them that they are pre-screened for HARP and can lock in more affordable mortgage rates without an appraisal, and even if they have lost equity.

For Brokers using HARP Refinance Leads:

While you do not have the same internal system to find your clients, you still can save a lot of time and money by pre-screening borrowers that meet the exact requirements for HARP. Before a single phone call is made or single mail piece is sent, you get an unprecedented view into the Homeowner’s credit report. This translates to a higher ROI by reaching borrowers most likely to survive the underwriting process.

As a next step, we can research your market to determine how many homeowners need to hear from you to make their homes more affordable. Contact a Harp Refinance Leads expert at 1-866-490-3459 or visit www.preforeclosuredata.net/harp-refinance-leads.html.