/24-7PressRelease/ - ENCINO, CA, April 21, 2006 - Mortgage Capital Corp. of America "MCCA" (www.mccawholesale.com), which is owned 100% by Encino-based Investment Bank Azure Group, Inc. (www.azuregroup.net) is offering their top producing mortgage brokers a free real time lead program. This program has been made possible through a Joint Venture with a Cupertino-based Technology Company, that specializes in generating highly customized leads for the mortgage banking industry.
"With the recent decline in refinancing demand and the emergence of a hyper-competitive market for mortgages, loan originators are encountering the same dilemma faced by other industries during the past few years: how do we maintain current sales levels in a declining market? With refinancing requests dropping from 75% to 58% in just a month (and expected to drop even further to a low level of 43% by the year's end), demand for new loans is rapidly subsiding, and with the National Do-Not-Call Law, loan originators now have to rely more on lead acquisition and niche market programs to maintain a healthy pipeline of new prospects and to compensate for the loss of revenues from refinancing activity", says Francisco Martin, Chief Financial Officer of Azure Group, Inc.
This Joint Venture will enable Morgtgage Capital Corp. of America (www.mccawholesale.com) to keep top producing Mortgage Brokers loyal customers.
How does the concept work?
MCCA will offer leads to Mortgage Brokers for free (every single lead being valued at approximately $150) as long as they use MCCA as the lender. In cases where the lead does not fit any MCCA programs, a third party lender can be used. In such a case, the Mortgage Broker will pay the full retail price for such lead.
MCCA's co-Founders Bill Anz and Francisco Martin are certain this formula will be very effective for customer retention.
Mortgage Capital Corporation is a licensed Mortgage Banker in California, Colorado and Florida. Pending States are Nevada, Arizona, New Mexico, Oregon and Washington. MCCCA specializes in Subprime and Alt-A loans.
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