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Mortgage Lead News
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| Last
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Monday, June 09, 2008 |
02:54 PM |
Texas
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A reverse mortgage lead generation company is now demanding that its customers to sign an agreement requiring them to follow a strict set of sales practices. A new offering from another loan lead firm enables originators to identify competitors who close loans on leads that they purchased but didn't close.
Originators who purchase mortgage leads for reverse loan prospects from Lender Lead Solutions will be required to sign an agreement about their code of conduct, the company announced last week.
The "strict guidelines" apply to advertising and sales practices.
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LendingTree LLC, which recently disclosed that former employees helped a number of mortgage companies steal the personal information of loan prospects, is now facing a class-action lawsuit over the data breach.
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A new offering promises to help loan originators convert more mortgage leads by delivering prospect data to mobile phones and other wireless devices as soon as the customer makes an inquiry.
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One of the biggest mortgage lead generation companies will be spun off by its parent company. Another not-so-big lead company has been labeled a "suspicious site" by an Internet research service. Meanwhile, one company is promising to enhance existing leads.
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Research and technology are increasingly being used to boost mortgage lead generation results and conversions. One report found the best results from trigger leads can be obtained between one and two weeks after the trigger date.
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LendingTree filed a fraud lawsuit against several individuals and companies over stolen lead data.
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As a growing number of mortgage lead services target prospects for loans insured by the Federal Housing Administration, several companies are touting how they can help mortgage originators turn more leads into loans.
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One company is offering to pay $500 for dead files, another is selling text message customer relationship management, and a third is targeting government-insured loan prospects. Meanwhile, a lead generation conference is being held in Las Vegas early next month.
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Fewer mortgage-related companies were among the 10 biggest online advertisers last month. Mortgage lead generation spending was down 20 percent.
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Mortgage lead companies are using blogs, free leads and property-specific promotions to generate and sell loan leads. One recent offering focuses on prospects who qualify for recently raised loan limits.
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Activity on mortgage leads for government-insured mortgages is surging. Meanwhile, a Texas-based lead generator claims more than $1 billion in loans have been funded from its leads in just over a year, and a Pennsylvania-based company is selling a service it says eliminates the need to buy mortgage leads.
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