Improved Mortgage Lead Quality

Low.com now uses a lead verification system “which combines historic user feedback with a more sophisticated verification system to yield higher quality leads for lenders,” according to a recent announcement. The lead provider says it never uses “Spam buy” or “complex co-registrations” to elicit leads.

Los Angeles-based Low.com has also improved “its landing page optimization” by directing consumers to targeted landing pages that increase consumer motivation and lead quality, the company’s president Fred Hsu said in the statement.

“This capability greatly contrasts with the competition, which does not distinguish where users come from, so they often get sent to the same static landing page,” Hsu said.

But at least one competitor claims it uses similar technology — offering a sophisticated verification system as well as targeted landing pages to optimize consumer experience.

Kevin Akeroyd, vice-president of Kirkland, Wash.-based The Loan Page Inc., told MortgageDaily.com that The Loan Page offers a variety of landing pages specific to the consumer’s interest. “If it is refi specific the form experience is a bit different than a purchase,” Akeroyd told MortgageDaily.com. “This increases conversion and improves lead quality.”

Akeroyd added that if a consumer clicks an advertisement that outlines specifically what the consumer needs they will be directed straight to the registration form, but if a consumer answers an advertisement that is geared to assist the consumer in their mortgage decision they would be taken to an educational site; a site that offers tools, calculators, and general loan information.

Regarding its lead verification system and the use of historic feedback, Akeroyd said its data integrity solutions allows The Loan Page to match lenders with leads obtained according to what type of leads the lender has been successful with in the past. The verifications system, Akeroyd said has the ability to eliminate 30 percent of junk leads and improve their economics by cutting return rates almost in half.

GoApply president Matthew Connelly said the verification system GoApply uses also eliminates about a third of its leads right from the top and then runs them through a quality assurance process that verifies the validity of the information supplied by the consumer.

Regarding historic feedback Connelly said, “Our biggest efforts revolve around our customers (lending institutions); the feedback we get from them.”

Connelly said GoApply drives most of its traffic through partner sites and banners but will use simple co-registration offers to obtain quality leads.

“We have found that consumers that are opting in when an offer comes across them are more apt to transact, as long as it on the merits of the mortgage offers itself, it absolutely works.”