Mortgage Industry Enthusiastic for 2006

BNTouch, an automated marketing company focusing on the mortgage origination industry, recently released the results of a 10 question survey within the mortgage community. The results show that 75% felt that 2006 will be better than 2005, and only 22% felt that the results would be the same or worse. Focusing on quality of service, originators said that more than 45% of their business was due to referrals. Though 44% of the originators saying that their pull through ratio was more than 50%, 21% of the originators said that pull through was less than 10%, showing the difference between marketing.

Despite the rise in rates, it looks that the industry is optimistic about the coming year. Financial plans showed that 32% of marketing was going to direct mail and only 16% was going to web site marketing. This shows that the “trusted advisor” method is beginning to take over the market, as opposed to search and click methods. Technology may give them an edge, but web sites are not as effective as word of mouth recommendations.