Mortgage companies are constantly requesting credit information from each of the three major credit bureaus. Whether you are pulling a tri merge credit report or a credit report from one of the individual bureaus, each time a request for a consumers credit information is requested, that particular consumer then becomes a “trigger” lead. Mortgage trigger leads are a powerful marketing tool for both telemarketing and direct mail mortgage marketing campaigns. This article will discuss both the usage of, and selects available for credit bureau generated mortgage trigger leads.

The primary benefit of a trigger lead is the fact that, as a mortgage marketer, you will undoubtedly be contacting a potential prospect who is currently seeking a new, or refinance mortgage product. Each of the three major credit bureaus, Experian, Equifax, and Trans Union, supply mortgage trigger leads. However, there are differences in the way each of these credit bureaus makes available their mortgage inquiries as a trigger lead. Trans Union and Equifax each supply mortgage trigger leads on a daily basis, meaning, mortgage companies are able to receive trigger leads the day after a mortgage inquiry is pulled. Experian and Equifax also each deliver their mortgage trigger leads on a weekly basis.

There are two major differences between a daily and weekly updated mortgage trigger lead, price and obviously the freshness of the data. First, a weekly mortgage trigger lead will cost less than a daily mortgage trigger lead. End user’s, the mortgage companies that will be contacting the trigger lead, should expect to pay in the range of $.25 to $.40 for a weekly trigger lead and $.50 to $.65 per daily trigger lead depending on the volume of the order. Second, mortgage companies need to be aware that mortgage trigger leads are not an exclusive lead. This means that an individual record will be sold multiple times. You may get lucky and no other mortgage company purchase’s the same trigger lead you do, but chance’s are, not one, but several other companies will be calling on the same batch of trigger leads as your company. So, obviously, you increase your opportunity to speak with a potential prospect with a daily trigger lead, for a greater cost of course. It is also important to remember that mortgage trigger leads are initiated by a mortgage credit inquiry, therefore, you will definitely be competing with the original mortgage company that has already pulled a credit report.

Daily and weekly mortgage trigger leads are selectable by a wide range of criteria, however, there are certainly not as many selects available as with each of the credit bureau’s mortgage database’s. The available criteria for credit bureau trigger leads will vary depending on which bureau you will be ordering from. Therefore, when purchasing trigger leads be sure to ask your list broker exactly what selects are available from each credit bureau. Some of the general selects available when purchasing mortgage trigger leads are:

• days/weeks back – you may select trigger leads that are backdated rather than from the most recent update (your list broker may give a pricing discount for “aged” data)
• length of residence
• phone numbers
• FICO scores
• revolving debt balance
• bankruptcies – you may select a number of BK’s or you may exclude them entirely
• mortgage balance
• estimated LTV
• dwelling type
• mortgage/equity line lender name

So, to summarize, when purchasing mortgage trigger leads, be sure to carefully weigh which criteria you desire for your campaign to help determine which bureau to utilize, and decide whether a daily or weekly feed will optimize your telemarketing or direct mail campaign. Of course, factor in the cost as well and possibly consider aged trigger leads to help save some money. Taking each of these factors in to consideration will help to develop the best prospects for your direct marketing campaign when utilizing mortgage trigger leads.