The Mortgage Leads Network, Inc. is a leading on-line marketplace for borrowers and lenders since 1998. We have had over 35,000 lenders and brokers register on our site. The Mortgage Leads Network, Inc. offers consumers at www.lenderscompete.com and lenders www.mortgageleads.net unparalleled choice and convenience.
As an innovator in the mortgage leads business, we invented the Cherry Picked Leads® system that has been copied by countless pretenders. Our system gives lenders the choice and control that is needed in today’s difficult marketing environment.
Our innovation continues in 2011 being the first mortgage lead provider to offer a flat fee live call subscription. These live calls come directly from consumers researching mortgage information online. The calls are not screened by us, they just ring in directly to your office. These are unlike, so-called double verified live transfers, that start as a telemarketing call, then transferred to a verification center and lastly to a loan officer.
The Mortgage Leads Network is different from other Internet mortgage referral sites in many ways. We never charge a fee to borrowers and lenders are never charged a fee when they close a transaction. Other sites charge lenders a back-end fee on each closed loan, and this of course is passed on to the consumer. The Mortgage Leads Network charges lenders only data transmission fees depending on the number of leads purchased.
Lenders sign up for free and enter their lending criteria. They select the geography (state, area codes, zip codes), loan types (purchase, refinance, second mortgages, commercial), the credit rating of the borrower (excellent, good, fair or poor), the loan to value ratio and minimum loan amounts. Lenders only purchase leads that match their lending criteria.
Consumers enter their mortgage request information on the Internet and it is automatically distributed in real time to up to three lenders on a first come first serve basis, when there is an exact match. Exact matches are generated when the consumers borrowing criteria exactly matches the lending criteria of our registered loan officer / lender. If there are not three exact matches then the data is posted to the member area of our web site where registered users can preview the lead data minus the contact information and select leads individually.
The web site is fully automated and both lenders and borrowers can conduct business without any human intervention on our part. The filtering system is second to none and allows lenders to target the exact niche they serve and allows borrowers to find lenders that otherwise would be very difficult to locate for loans that require “special handling”. Lenders pay for the leads on a per-lead basis. Prices are dependent on the time the lead was submitted by the consumer and decreases over time.