Times are tough for mortgage brokers and loan officers. Loan programs have dried up and disappeared. The ones that are left tighten their guidelines almost weekly. The mortgage-lending world is a completely different place than it was four years ago. It used to be that there was a loan program to refinance almost all of your prospective clients. That is all gone.

If you want to be successful in the mortgage world in the upcoming years, you need to change your focus to construction loans. There has never been a better time to switch to the purchase market, especially construction loans. The tax credit for new homes will be extended into next year, and as the market starts to recover, there will be record number of new home purchases and new home construction. Now is the time to get good at these loans.

Construction loans are not easy loans. There’s no getting around that. However, any account executive, working at a wholesale bank, which is worth his salt, will be there to help you through the process. Learning to do these loans well will be no different than when you first started offering FHA and VA loans. It will be tough going, but the more you do, the easier they will become.

Nevertheless, the trick here is that you’re going to need to start doing a lot of them, and doing them fast. The only option that you have to pull this off will be to buy mortgage leads. You’ll need them in order to get yourself talking to as many construction clients as you possibly can.

Sales lead generation is a very sophisticated process. It’s not like it once was, when a mortgage lead could just as easily be life insurance leads or MLM leads. Lead generation has developed to the level that you can easily get leads that were based on highly specific targeting. Whether it’s insurance leads or mortgage leads or even more specific, you can find any particular type of client that you are looking for through properly purchased sales leads.

If you want to survive this drought, you need to start buying them now. The more you work with any particular type of lead, the more you will become accustomed to selling that type of lead. In addition, the better you are at selling construction leads, the better insulated you will be against further refinance regulation and tightening.

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