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Anyone Doing this?

Mortgage Leads

3:01 am on Apr 30, 2005 (gmt 0)

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joined:Mar 31, 2005
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I'm looking for a mortgage lead affiliate to sign up with. Through CJ, I'm currently using lowermybills and ameriquest but would rather collect leads through my own app form and then sell the leads. I have had some success with lowermybills "advanced link" but no luck with banner type ads. My site gets a lot of highly targeted organic traffic and visitors are ready to interact with an app form based on them already using the "advanced link" type ad. Advanced link is like a little mini form where the user selects state, type of loan, credit profile and when they click submit, up pops the lowermybills site with this bit of information already filled in. To my surprise users have been filling out the apps. So, anyone collecting their own leads and then selling them off? Many of the adsense ads appearing on my site go directly to lead collecting websites rather than actual banks or lending institutions. So, this kind of lead collecting does exist and I'm looking for where to sign up. Maybe I just have to start contacting the lending companies directly and ask them about doing this.

[edited by: eljefe3 at 5:30 pm (utc) on May 7, 2005]

12:25 pm on May 23, 2005 (gmt 0)

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This is a little off topic but I am curious what some of you successful mortgage lead companies think about the US do not call laws and what it might do to your businesses.

Go to google and search for "Dynasty Mortgage fine leads" and you will find an article about a mortgage company fined $770,000 for calling leads that were on the do not call list that they bought from a lead company. I can see in the near future mortgage companies that start refusing to contact leads that are on the DNC list if they fill out a third party's lead form. Yes, I understand the law says that if people submit a form asking to be contacted that this does not break the law, but, many mortgage brokers claim that lead companies often sell them leads that are people who say they did not ask to be called (like affiliates filling out random names from phone books which I have seen happen).

For those of you lead companies that use affiliates, does this scare you? Not just the thought of getting your leads scrubbed and losing money, but of getting sued in return if a mortgage company gets sued for one of your leads being a DNC person and complaining?

8:38 pm on May 23, 2005 (gmt 0)

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does this scare you?
well it didn't until you pointed that out - thanks!

But if this did become a problem it would be easy to scrub the list against a Do Not Call list.

5:35 pm on May 24, 2005 (gmt 0)

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If you were using PPC this would be a major annoyance as you'd have paid for the clicks from people on the DNC list.

If this happens, it would probably pay to warn off applicants whose name is on a DNC list by making it clear that these applicants are not welcome with a warning of some sort on the site.

Perhaps some one really clever could come up with a way of integrating the DNC numbers into the app process, so anyone on the DNC list would have their app automatically rejected online.

2:22 pm on June 8, 2005 (gmt 0)

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joined:June 8, 2005
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The UK market is a lot different to the US. Mortgage leads are generally of a much higher quality and brokers expect this. The UK market has many more issues to do with compliance which means that brokers are a lot more fussy about who they will deal with. We set up as an agregator to collect and distribute mortgage leads in the UK. One of the biggest no nos in the business would be to sell a lead onto more than one broker. Infact regulation make that impossible.

The plus side is that currently the UK sees much higher lead prices than the US.

[edited by: Drastic at 5:10 pm (utc) on June 8, 2005]
[edit reason] no self promotion please [/edit]

This 34 message thread spans 2 pages: 34

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