Trigger leads are summarized credit reports based on a consumer that has inquired for a loan or has had their credit checked within the last 24 hours. Trigger leads are also sold on a weekly and monthly basis. The trigger lead universe is divided up into 3 categories – Auto, Mortgage, and Credit

Auto Trigger Leads

Auto trigger leads include finance applications that have occurred online, in a dealership, or over the phone/fax. These applications are then scored and the summary of that information including the contact information is forwarded to the client within 24 hours. For auto trigger leads, the biggest challenge is getting that borrower to come in to take a second look at your vehicles. Usually you will need a good offer and a unique inventory to convince a qualified borrower to come over to your dealership.

In many cases, auto finance firms will target subprime or low credit individuals that may have a very low credit score that could be financed at their dealership. The criteria for each of the trigger leads can be customized so if you have a special finance offer, 500-600 credit score for example, can be targeted only to exclude above 600 or below 500.

Mortgage Trigger Leads

Mortgage trigger leads can be divided in a couple of categories including subprime and 2nd opinion trigger leads. Often a mortgage broker will want to focus on jumbo or high value loans if they have a great program with super low rates they can come in as a ‘2nd opinion’ and win the business. Conversely, a subprime lender can target 650 and lower credit scores with equity and offer decent rates to borrowers that have subprime credit.

The trick to success with mortgage trigger leads is to remember that the mortgage is already in play. You are coming in behind the first guy so you need to come in with the best rate and better service. Typically you will find 1 in 3 active mortgage deals being worked on the borrower isn’t thrilled about the customer service. Being prompt and courteous goes a long way – hopefully we can show you how we do it here at Black Book Data. Call today for a complete trigger lead consultation.

Credit Trigger Leads

Finally, credit trigger leads pertaining to “credit” can range from personal credit cards to other lines of credit for business, student loans, etc… Credit triggers are not always for the same reason and for that reason it’s not easy to offer them as a ‘catch all’ for credit card offers or student loan offers. Typically, credit trigger leads are good for any offer that can see someone has applied for some kind of credit and has X credit score and other criteria selections.

Use credit trigger leads for general purpose fcra compliant loan offers. Of all products, trigger leads typically are the lowest cost for the highest interest from the consumer. Be aware however that the information received is more limited and not as detailed as a normal marketing lead list.