Michael Barone | Re: advance!!!!!!!!!!!!!!!!! [michael_b] A US lender (Nationwide) wants to directly outsource loan origination.
Prospect criteria & Prequalification
* Payout - $25 per lead.
* Prospect must be employed & in the same job or field for more than 2 years. Self employed also acceptable.
* All pays not mentioned in W2 should be averaged from the pattern in last 2 years and next 2 years. Should have basic income or some other fixed income.
* Prospect age should be between 21-65. Lead Should be for Primary residence only.
* Loan amount greater than 150K. Cash out of at least 10K. Less than 35K is acceptable only if debt consolidation. DTI ratio of less than 50%. LTV less than 80%. No Prepayment Penalties.
* Borrower must be looking at lowering the payments or consolidating debts. Must have liquid assets of at least 2K and at least worth P&I payments for 3 months.
* Interest rate of at least 6.5% 30 Yrs Fixed. Rate of at least 6% with cash out of 20K for Debt Consolidation. Credit score of at least 680.
* No Collection, Charge-offs, Repossessions, Judgement, Tax liens, Foreclosure or Bankruptcy in the last 2 years. No mortgage or rent late payments in the last 12 months. 1x30 OK in last 24 months.
Lead Qualification
* Prospect must be reachable in the next 3 business days and must correctly verify the lead details.
* Prospect must have a general interest in refinancing or mortgage loan
* All the details entered must be factual and adhere to the criteria mentioned
* Prospect should not have been incentivised to opt for this program
* No promises must be made to the prospect regarding rates or guarantee of loan
* All prospects must be delivered exclusively for this program
* Prospect should not be on State or Federal DNC list
* No Interest Rate shoppers
* Should not have refinanced in the last 6 months
* Only Single Family Residences for Primary Residence Loans
Reap benefits of high loan amount prospects
* Loan Amount - $500,000 to $750,000
Credit Score of 700 and above. Only Employed prospects in the age group 25 – 55.
Interest rate of at least 6.5% 30 Yrs Fixed. Rate of at least 6% with cash out of 25K for Debt consolidation.
States - AL, AK, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, KS, LA, ME, MD, MA, MI, NH, NJ, NM, NY, NC, OH, PA, TN, TX, VT, VA.
Payout - $100 Per lead ($100 more after closing)
* Loan Amount - $750,000 to $1,000,000
Same criteria as above
Payout - $150 per lead ($150 more after closing)
* Loan Amount - $1,000,000 to $1,500,000
Same criteria as above
Payout - $250 per lead ($250 more after closing)
* Loan Amount - $1,500,000 and above
Same criteria and above
Payout - $350 per lead ($350 more after closing)
Michael Barone
barone.michael@gmail.com
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