Mortgage Daily

Published On: January 11, 2008


Mortgage Leads Marketplace

Recent mortgage lead activity

January 11, 2008


photo of Coco Salazar
Two mortgage lead generation companies are targeting buyers of reverse mortgage leads while another is capitalizing on interest rate resets. Originators in the Sunshine State now have a source to sell dead leads to. reported it has seen “tremendous success” since launching its mortgage lead auction model a month ago. Originators compete with many other originators for prospective borrowers by providing one of the five lowest quotes.

Through direct mailing campaigns, Survey Resource Center gathers leads for adjustable-rate mortgage borrowers who face a reset within a four-month period, according to an e-mail sent by Survey Resource national sales representative James Palmer. The company also provides leads for reverse mortgages.

Survey Resource’s leads are exclusive, can be sorted through county, and have a 100-percent connect rate on the names, numbers and addresses, Palmer said in the e-mail. Additionally, there is a 90-day money back guarantee that refunds the purchase price entirely if $4,000 in commissions are not earned through 100 names.

Survey Resource claims its files consistently produce appointment rates of two to three times the industry average, and that it does not require contracts or large volume orders. reported it provides exclusive and nonexclusive leads on 62-year old homeowners with at least 50 percent equity who are ready to buy a reverse mortgage, according to its Web site. The company touted leads available in all 50 states, noted is the first and oldest to offer online reverse loan leads and said its closing ratios are the highest in the industry. receives reverse leads for reverse loan requests from its own site, as well as affiliates, search engines and banner ads, filters them to match the criteria originators select, and then screens and verifies them before delivering them to originators. Fees depend on the lead criteria originators choose, according to the site.

Lender Leads Solutions now offers a fixed-rate Home Equity Conversion Mortgage product. The reverse mortgage services company said that its first fixed HECM has maturity conditions are similar to those of a traditional HECM, including no loan repayments only if the borrower maintains homeowner’s insurance, pays real estate property taxes and does not vacate the residence for over 12 months.

Mortgage loan officers and brokers in Florida can sell qualified un-closeable mortgage deals and leads to, according to an announcement by the company’s creator Florida Financial Group LLC, which says it is a correspondent lender. Through’s Cash Tool Box Program, originators can make $200 and possibly $500 on each lead they sell.

The Fort Meyers, Fla.-based lender said the program uses its own cash, “Pre-Closing cash,” to fix the problems associated with a mortgage application that are preventing an approval and closing.

“The new company, through purchasing of leads from mortgage brokers and others in and around the mortgage industry, provides an opportunity for these professionals to make some money on a deal where previously there was no revenue,” Florida Financial said in the announcement.

Meanwhile, online leads generator Loanbright and Ellie Mae announced they entered into an agreement designed to give Ellie’s Encompass users a “simple, affordable and easy way” to buy locally-targeted leads from prospective purchase-money borrowers.

“As the mortgage market continues its transition, we feel the key to long-term success for mortgage brokers and loan officers is to get back to the basics of serving home buyers and home owners in their local communities,” said Mark Rodriguez, a Loanbright vice president, in the announcement. “This partnership is a great opportunity for us to educate Encompass users on how working with home buyers in their local market can help them to build their businesses, especially in slower or transitional markets”

Loanbright sells its leads on a per-lead basis and performs both automated and manual quality control measures to screen out visibly bad leads before delivering them to Encompass, where the leads can be accessed and managed. Purchase-money loan leads cost from $3.99 to $8.49 each depending on geographic area, and no up-front payments or long-term contracts are required. For a limited Loanbright is offering a 15-lead free trial to Encompass users that sign-up for its services, the companies reported.

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