|Mortgage loan originators have more options for loan lead purchases, including pay-per-click by niche and lead notification by mobile device.
a la mode inc. will integrate pay-per-click advertising into its business-building software to expand mortgage prospecting for brokers. The technology company today announced its plan to integrate the pay-per-click advertising and mortgage lead generation services of LoanBright into its Mortgage XSites Web sites and XSellerate automated marketing suite.
Brokers who use Mortgage XSites and XSellerate will be able to easily subscribe to LoanBright’s services, a la mode said.
LoanBright reportedly operates loan comparison services, Loan.com and CompareInterestRates.com, and offers a suite of lead generation products to the lending industry.
“LoanBright…is a resource any broker serious about getting new business should know,” said Brad Eaton, an a la mode vice president, in the announcement. “Brokers on the XSites Network are already invested in the top marketing and business development technology there is.”
With Loan.com’s pay-per-click service, mortgage industry players can attract highly targeted consumer traffic to their Mortgage XSite sites, a la mode said. The pay-per-click service works like the bid-based system offered by major search engines’ sponsored links, but rather than bidding on keywords, advertisers bid on categories of loans. Loan.com has defined over 600 different loan categories open for bids, which have a minimum of $0.50 per click. Lenders are ranked within each category based on the amount of their bid, according to the announcement.
CompareInterestRates.com has generated more than $60 billion worth of mortgage leads and had more than 4.4 million visitors in 2004, a la mode reported.
Earlier this month, Bankrate.com said it implemented a pay-per-click tiered pricing structure, with leads costing from $1.75 to $5.25. Bankrate previously charged a flat monthly fee to be listed on its randomly populated interest rate tables.
Another lead generation tool mortgage players now have available is Leadorder.com’s system Mobile Lead Technology, which notifies loan officers of new prospects on a mobile device, according to a press release.
Many mortgage companies turn to the [Internet] to buy leads,” Leadorder said in the announcement. “Until now, the leads would have to be downloaded from a desktop computer then the mortgage officer would have to call the leads from the office to make the first point of contact.”
With the Yahoo!-powered system, whenever a new lead is available, a text or page is sent to loan officers notifying them that a borrower in their area would like to speak with them.
“The lead can be viewed from the mobile device and contacted with minutes of the quote request,” Leadorder said.
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