Dear Brian

I was just approached by a local newspaper and wondered if you felt if it was worthwhile to advertise? They also have an online addition that I would be included in as well.

Robert D.,  Atlanta GA

Dear Robert

Thanks so much for your question and it is a common one. We have people contacting us all the time and telling us that in order to do more business we “need to get your name out there.”

But here’s the problem.

The online and offline publications charge you based on the visitors/readers they have. But only a very small percentage of that group might be interested in a mortgage.

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You would be far better off to simply market to buyers you already know are looking to purchase or refinance. As an example, let’s say this publication was going to charge you 500 a week for your ad?

I would tell you that you will have better results mailing 500 postcards to renters in your area that are renting for what a mortgage payment might be in your area.

If you do want exposure in this publication why not ask them to allow you to write an article. You can also suggest a topic and have them interview for a story.

I hope this helps Robert. The key is that you want to make sure that every penny you invest in your marketing is trackable and accountable to you.

Let me know how that works out for you by leaving a comment.

Dedicated To Increasing Your Production
Brian Sacks
Brian Sacks is the author of 48 Proven Ways To Immediately Grow Your Production. If you have a question you would like me to answer send it to This email address is being protected from spambots. You need JavaScript enabled to view it.with the subject Dear Brian Question

The Mortgage Bankers Assoicitation's Market Composite Index, a measure of mortgage loan application volume, decreased 7.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6 percent compared with the previous week. The Refinance Index decreased 11 percent from the previous week. The seasonally adjusted Purchase Index decreased 4 percent from one week earlier. The unadjusted Purchase Index decreased 3 percent compared with the previous week and was 3 percent higher than the same week one year ago.

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“The 30-year fixed mortgage rate has risen 10 basis points in three weeks, and is now at its highest level in over a month. Borrowers remain extremely sensitive to rate changes, which is why there has been a 28 percent drop in refinance applications over this three-week period. Purchase activity also declined, but remains almost 3 percent higher than a year ago,” said Mike Fratantoni, MBA Senior Vice President and Chief Economist. “Borrowing costs have recently drifted higher because of ebbing geopolitical concerns, as well as signs of strengthening in the U.S. economy, including the recent data pointing to robust retail sales.”

Added Fratantoni, “The strong economy and job market is keeping buyer interest high, but rising mortgage rates could add pressure to the budgets of some would-be buyers.”

The refinance share of mortgage activity decreased to 39.4 percent of total applications from 41.5 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 6.4 percent of total applications.

The FHA share of total applications increased to 9.9 percent from 9.4 percent the week prior. The VA share of total applications decreased to 11.3 percent from 11.6 percent the week prior. The USDA share of total applications remained unchanged from 0.6 percent the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) increased to 4.46 percent from 4.44 percent, with points increasing to 0.44 from 0.42 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) increased to 4.35 percent from 4.33 percent, with points increasing to 0.25 from 0.23 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.49 percent from 4.43 percent, with points increasing to 0.57 from 0.56 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.87 percent from 3.84 percent, with points decreasing to 0.44 from 0.45 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs increased to 3.92 percent from 3.88 percent, with points increasing to 0.28 from 0.19 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc.  announced today that Radian MI is now available directly through Compass Analytics’ product, pricing and eligibility (PPE) engine, CompassPPE™ (CPPE). This integration is helping ensure customers receive Radian’s most competitive MI rates by providing them access to a comprehensive, contemporary PPE that is designed to optimize speed, flexibility and accuracy. Lenders and loan officers can conveniently view precise, side-by-side comparisons of Radian’s MI products in one seamless transaction "Radian is dedicated to providing our customers with accurate and streamlined access to our product offerings and, through our integration with Compass Analytics, we are continuing to make good on that promise,” said Radian Chief Franchise Officer Brien McMahon. “No matter the pricing options our customers use, CompassPPE™ puts accurate, granular pricing tools in the palm of their hands.”

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Through CPPE, Radian offers pricing for a standard rate card, as well as RADAR Rates, Radian’s more granular MI pricing option that allows lenders to search with confidence knowing that each rate quote is fine-tuned to their borrower's individual risk profile and loan attributes.

"Compass Analytics is proud to partner with an industry leader like Radian,” said Nancy Pollard, Managing Director of Pricing Technologies. “Our vision for pricing technology aligns with Radian’s goal of providing customers with accurate, customized pricing tools that allow them to make well-informed decisions and transact with ease."

Ally Financial Inc. (Ally) today announced a partnership with Better.com to create a new end-to-end digital experience for consumers looking for a mortgage loan from Ally. In addition to the partnership, strategic-investment arm Ally Ventures has announced an add-on investment to Better.com’s recent Series C funding, significantly increasing Ally’s overall ownership in the company. In this two-fold relationship, the online-only bank will combine capabilities with Better.com to further Ally’s position as a leading digital financial services company.

The companies said that combining the capabilities of Ally Bank with the digital platform of Better.com will bring speed and simplicity to the mortgage origination and funding process, creating a truly digital experience.

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"Providing frictionless, digital experiences to our customers is core to Ally's strategy. We're revolutionizing digital banking by putting all of our customers' core financial services needs at their fingertips," said Diane Morais, Ally's President of Consumer and Commercial Banking Products. "With Better.com, we will deliver best-in-class mortgage experiences in a highly innovative and scalable way, furthering our role as a financial ally for our customers."

According to the companies, the new partnership speaks to Better.com's cutting-edge innovation and the overall transformation of the financial services industry. Similar to Better.com's existing platform, customers will be able to obtain pre-approval in as little as three minutes and lock in a rate in as few as 10 minutes, creating a more efficient and solution-oriented mortgage process.

"Our partnership with Ally supports our goal of transforming the mortgage industry across the board and delivering a better mortgage experience to all consumers," said Vishal Garg, CEO and Founder of Better.com. "Additionally, with Ally's investment in Better.com, we become partners not only in our shared vision for a seamless customer experience in home finance, but also in the long-term success and future of the mortgage industry."

Ally plans to pilot it’s new capabilities in Arizona, Connecticut, Louisiana, North Carolina, Oregon, Pennsylvania, Tennessee, Texas and Washington later this year, rolling the platform out across the U.S. by the end of 2019.

"Strategic partnerships are an important component of our growth strategy. At Ally Ventures, we look for companies that are disrupting their industries for us to invest in and partner with to bring innovative products to the market. We felt a strong strategic and cultural fit with Better.com," said Ally Chief Strategy Officer Dinesh Chopra. "The mortgage industry is ripe for digitalization, and our investment and partnership will allow us to deliver an industry-leading digital mortgage experience.