Introduction To Mortgage Leads
The term “mortgage leads” is not well known to people outside the mortgage business. Few consumers hear this term used, even though, they could be a mortgage lead themselves. Mortgage leads include information about consumers.
Whenever you, as a consumer, fill out a questionnaire about a mortgage, you become a mortgage lead. In many cases, these questionnaires are filled out when you respond to some kind of mortgage advertisement. If you’ve ever filled out such a questionnaire, then you noticed it included questions that a lender might use to determine whether or not to extend a loan to you: employment, income, credit, house price.
A lead specialist can make all the loan promises necessary to get you to give your personal information, yet he has no responsibility to ensure those promises are kept.
The nature of the mortgage leads business is an impersonal one. With lead specialists selling to the loan providers that pay the highest price for their leads and often selling single leads to multiple loan providers.
