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Home » FAQs
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| Services-On-Tap™: Frequently Asked Questions |
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AcquireM
ProcessM
VerifyM
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AcquireM
Can I "cherry pick" the best AcquireM mortgage leads?
- You don't need to. The mortgage leads we generate are exclusive. Our quality checks at every step of the process are designed to deliver consistent lead quality. And while you can require specific filters to profile your leads, because we've generated that lead specifically on behalf of your business, we aren't able to transfer that lead to anyone else.
Why should I buy AcquireM Live Leads instead of electronic (e-Mail) leads?
- Services-On-Tap offers both electronic (e-Mail) and Live Leads. As the names imply a live lead is a transfer with the customer on the phone. This eliminates the need to call back and reconnect with the customer and will result in a higher close rate. We also pay for all the telephone costs of the call. Ordering Live Leads does require staffing during the specific calling windows and it may not be appropriate for every firm.
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What is your lead return policy?
- You may return leads for immediate credit within 5 business days of leads being made available to you if any of the following conditions occur. We will respond within 48 hrs after analyzing the reject. All accepted rejects will be replaced at the end of the original order campaign.
- Duplicate lead - The loan request is a duplicate submitted by the same prospect with respect to the same property (the same loan product).
- Wrong State - The property being inquired is not located in any of the states that the client checked in the list of states.
- There is no way to contact the prospect because the loan request contains incorrect phone number(s).
- The prospect is not a property owner (unless in the case of 'Purchase' leads).
- The loan amount is less than $100,000 in Zone A and $80,000 in Zone B for First Mortgage.
- The loan amount is less than $20,000 in all states for Home Equity loans and line of credit.
- The following reasons for rejects generally cannot receive credit:
- The prospect disclosed false information about credit, equity, income.
- The prospect is already working with another mortgage company (we recommend contacting the borrower as soon as the lead is received so you can be the first to earn their business).
- The prospect is just a rate-shopper.
- You left messages and the prospect did not return your phone calls.
- The prospect did express interest in talking to an LO when asked by the telesales rep but is not interested any more.
- The property is located in the correct state, but the prospect lives in a state different than the actual property being inquired.
- The property is located in the correct state, but the prospect lives in a state different than the actual property being inquired.
- Bad leads are returnable within 5 business days from the time the lead is delivered. We respond within 48 hrs after analyzing the reject. All accepted rejects are replaced at the end of the original order campaign.
- There is no restriction in the number of leads that can be rejected based on the Reject Policy described above. However, we monitor the ratio of lead returns to purchases and may terminate participation if the client returns more than 25% of the total purchased leads for reasons that our quality team does not accept on listening to the recordings of the calls. In case of cancellation of participation the account balance will be refunded.
- We reserve the right to change this policy at any time and without notice.
- The leads are exclusive. In fact we've already introduced the customer to you and the customer is expecting your call.
- The leads are fresh. Unlike Internet generated leads, our leads are fresh and live leads have just expressed an interest to get more information from a loan broker.
- The leads are double verified. We employ an extensive quality process to make sure the customer is truly interested in learning more about your mortgage products.
- Guarantee. Finally, we stand behind our leads and are happy to credit customers when the lead doesn't meet our quality standard.
Mon - Fri windows:
1 PM – 7 PM
1 PM – 8 PM
Mon – Sat windows:
1 PM – 7 PM
1 PM – 8 PM
How does Services-On-Tap transfer electronic leads?
- As soon as a lead is generated an e-Mail is automatically sent to you directing you to log on to the Services-On-Tap website. If you use Encompass software, you can access these leads from your lead center.
Step 1: We check for the following basic criteria:
- Every AcquireM mortgage lead is exclusive.
- Minimum loan amount of $100,000 in Zone A and $80,000 in Zone B for Refinance, Refinance with Cash out, Purchase.
- Minimum loan amount of $20,000 in all states for Home Equity loans and line of credit.
- No Current Foreclosures.
- No Current Bankruptcies.
- Excludes Mobile or Manufactured Home.
- Interest rate threshold of 6% for refinance with cash-out (cash out minimum of $10,000) and 6.75% for rate and term refinance (for fixed rate mortgages only).
Step 2: If the borrower's profile meets the above criteria, we apply the filters specified by you based on:
- State
- Type of loan
- Loan to Value
- Credit rating
- Bankruptcy discharge period
- Last refinance
- Mode of Transfer
Step 3:
Finally we make sure that the customer is interested in talking to you. We introduce your services to the customer and then our quality team double checks to make sure the customer is interested in receiving more information about a loan.
Only leads that qualify through all three steps are transferred to you.
- State
- Type of loan
- Loan to Value
- Credit rating
- Bankruptcy discharge period
- Last refinance
- Mode of Transfer - Live or Electronic (e-Mail) leads
How does Services-On-Tap generate its AcquireM leads?
- Services-On-Tap generates all leads using our own employees so we can carefully monitor quality and consistency. We typically start with large lists of homeowners and our scripts probe homeowners for scenarios where a refinance might be advantageous. After applying all the standard and customized qualifications we introduce you to the potential customer before verifying that they are interested in learning more.
Can I make any changes after I place an order?
- No. Unfortunately once your order has been placed and been confirmed, we immediately start to make investments in list acquisition and calling resources. If you feel like you are likely to change your requirements, we advise you to order in relatively small increments.
How soon can I get started?
- Getting started couldn't be easier. Just register, specify your requirements and place your order. If you have any questions before sign-up, you can either chat live with your Services-On-Tap sales rep or call 866-643-8768 for assistance.
Why do I need a Subscription Account Number (SAN)?
- Services-On-Tap takes privacy very seriously and we carefully monitor the national Do Not Call registry. As a means of building accountability within the telemarketing industry both Services-On-Tap and our clients are required to register. It’s easy, automated and secure.
- Go to the website: www.telemarketing.donotcall.gov
- You’ll be asked to profile and identify your organization. Once this profile is set up a Subscription Account Number (SAN) will be provided. We add this same SAN to your Services-On-Tap record as part of our accountability requirement.
How do I pay for my order?
- You’ll need to enter your credit card information at the time of your purchase into our VeriSign® secure website. We will verify but won’t charge your card until we deliver your first order. We accept Visa, MasterCard and American Express. If you have special requirements, please don’t hesitate to contact our sales team at 866-643-8768.
ProcessM
How do you get paid when a loan closes?
- Our fee is placed on the HUD at closing. Basically the same as an appraiser or survey company is paid. Fees such as verification of employment fees through the "work number for everyone", HOA fees, Payoff fees are paid directly to us by the broker.
What is your turn around time for loan processing?
- Typically 20 days or less, unless there are significant delays at the chosen lender, title company and other third parties. We are better than usual because we work 24x7 and have dedicated teams just for verifications and vendor follow ups.
How do you handle shipping of files?
- We stack the file electronically and send to the LO to be shipped. If any submission – to the lender/ closing agent / borrower is possible electronically, we take care of it
I am concerned about sending files offshore.
- We do not deal with physical documents. Also the files are not sent offshore. The servers where the data and scanned documents reside and worked from all exist in the US. We have extremely robust information security which has been audited by Federal Agencies.
VerifyM
What type of verification services do you offer?
- Services-on-Tap offers Verification of Employment (VOE) & Verification of Employment and Income (VOE & I). You can choose between Tele-Cert (verbal verification) and Full-Cert (written verification). You can specify the mode of verification at the time of placing an order.
- Verification type
- Date of verification
- Applicant’s name,
- Name of employer
- Address 1
- Address 2
- City
- State
- Zip
- Phone number
- Work phone
- Job title
- Date of joining
- Tenure
How does employment & income verification service work?
- Once an order is received along with the authorization form, we verify the contact information using an independent source like directory assistance, internet resources etc. Once the number has been verified a call is made or request is faxed based on the type of verification ordered (Telecert or Full cert)
How do you handle Work Number?
- We currently do not process orders which require the use of Work Number. Such orders will be returned to you as 'cannot be fulfilled'.
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