Frequently Asked Questions

How much does it cost?

Follow My Leads offers three pricing options for Hot Transfers, starting as low as $85 per transfer.

What kind of conversion ratios should we expect?

Due to the fact that our Hot Transfers are actual live borrowers (thus, inherently a 100% contact rate), our clients report that 50-75% of all transfers result in an app/credit-pull, and 6-20% of all transfers result in a funded loan. Where your results will ultimately fall is affected as much by your internal practices (i.e. conforming vs. sub-prime focus, competitive pricing, sales skills, management, etc.) as it is by the quality of our program.

Are Hot Transfers exclusive?

Actual Hot Transfers are exclusive to your organization and the borrowers associated with the transfers that you receive will not be transferred to any other mortgage company.

Can we access the borrower's data at the time they are transferred?

Yes. Your loan officers will be able to pull up the data associated with each borrower by entering the borrower's 10-digit phone number into the application found at followmyleads.hot-transfers.com (the borrower's phone number will be provided to the loan officer by the transferring call rep at the time of the transfer). Custom data-transfer solutions are available for clients with custom lead management system requirements.

Is credit pulled on the borrowers prior to the transfer?

Out of privacy concerns, we do not collect borrowers' social security number. Thus, we do not pull a borrowers credit report or access their FICO score.

What is required - is any special phone or Internet technology required on our end in order to receive Hot Transfers from Follow My Leads?

No. All that is needed is a toll free number that is dedicated to receiving Hot Transfers and a standard web browser. However, certain phone features may improve your effectiveness in handing large numbers of incoming transfers being routed to large numbers of loan officers. You may wish to discuss your objectives with your business phone system service provider.

Can I have the inbound Hot Transfers routed to a receptionist first, and then re-directed to a loan officer?

Yes. However, getting the borrower off hold and speaking with a live loan officer as quickly as possible is a key to the effectiveness of our Hot Transfers program. Thus, this approach must be well-coordinated, well-managed, and efficiently executed. We require that the borrower be connected with a loan officer within 30 seconds of the initial contact with the receptionist.

Who pays for the long distance charges associated with each party (call center, borrower, and your organization)?

Your organization will be responsible for the long distance charges from the moment the Hot Transfer is executed until the end of the call with the borrower. Long distances charges prior to the completed transfer are the responsibility of the call center.

Are the conversations between the call center reps and the borrowers recorded?

Yes. All conversations between borrowers and the call center reps are recorded and are available for your review within 24-hours of the transfer by logging into the admin section of your user account.

Can I increase or decrease the number of Hot Transfers being received by my organization?

Yes. We can increase or decrease the number of Hot Transfers you receive with 48 hours advance notice.

What is the minimum initial commitment? What if I want to cancel?

Follow My Leads offers a "per-transfer" pricing model and you can get started with as few as 50 transfers. There are no long-term contracts or commitments. Thus, the pressure is on us to keep you satisfied.

What is the difference between a "Hot Transfer" and a "Warm Transfer"?

From time to time, you may hear the expression "Warm Transfer" used instead of "Hot Transfer." There is no official definition for either expression and we consider them to be one and the same. Since they are essentially the same, we prefer to use the expression "Hot Transfer" since it better conveys the high-octane nature of our program.

Are there situations where I can receive a credit for the Hot Transfer?

Yes. Below is our list of valid credit-requests. All of our prices reflect an automatic 5% credit built-in. Credit requests that exceed this built-in 5% are eligible for replacement transfers.

* Potential borrowers are screened for this information at the time of their initial expression of interest (Internet form submission or information provided to a telemarketing rep) and again by the call center rep prior to the Hot Transfer. Unfortunately, we cannot issue a full credit for borrowers that provide false information through both of these layers of screening and qualification.

What are my payment options?

Prepayment is required for Hot Transfers. You may pay via Visa, MasterCard, American Express, or company check.