While everyone and their mother is scrambling to diversify, yes mothers are diversify too, their tools, gadgets and resources are diversifying with them.
It was announced today that Leads360, who has been using much of their resources to first hire a number of quality people and second to diversify their focus outside of mortgage. There is no doubt that mortgage will always be their main focus, along with other companies that also have their roots firmly planted in the mortgage vertical, but they have made a nice move to make life a little easier for their current and future debt clients by integrating Prime Debt Soft.
Nick Hedges, SVP of Strategy at Leads360, is excited for the opportunity: “As the debt industry grows, we continue to see an increasing number of inquiries from debt resolution companies. Leads360’s partnership with Prime Debt Soft enables us to provide a highly efficient process to enroll consumers and start them along the path to financial freedom and capitalize on a booming market.”
While mortgage companies begin building out, what I like to call the “sub prime suite” that includes credit repair, debt settlement, loan modification and FHA mortgages they now possibly have one application that can help with a few of those products. What I don’t know is if a user can have access to Nylx mortgage pricing and Debt Soft within the same user account. I am going to guess and say they probably don’t. I think it would be good to have the option to either enable specific add ons or disable them depending on how you have your shop trained. Some may prefer to separate the two products between different teams and others may find it best to have their agents sell multiple products.
None the less, a very nice addition to already robust piece of software.
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Hey Lead Critic,
Thanks for the kind words. In theory there is nothing to stop someone having NYLX, PDS, Dialer, Caylx and Encompass in one product what we are finding is that this isn’t something most companies are interested in. In fact of the 35 debt companies we currently have using our software, none of them are trying to do both debt settlement or management in the same database as mortgage and we would not recommend it.
If mortgage companies transition to debt settlement they typically don’t seem to have the same people selling mortgage and debt simultaneously or at the very least they prefer to keep the applications separate.
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diversify outside of mortgage. That is a good plan which some companies have already done. Look at eleadz for example and some of their sub-domains. Mortgage is not the only one but boy oh boy be ready when it comes back to at least mid-1990 levels. We all know ALT-a will come back in some form and so will sub-prime. We don’t learn from history it is done over and over again just with a different name.
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