Mortgage Leads

Mortgage Lead News

Countrywide Sued Over Stolen Leads

A class-action lawsuit has been filed against Countrywide Financial Corp. and some of its affiliates over personal customer data that was stolen and sold by a former executive. More than 2 million customers could potentially join the case.

Matthew and Danielle Holmes filed the lawsuit Wednesday in U.S. District Court for the Western District of Kentucky. The couple originally refinanced their existing loan in October 2007 through Ohio-based Mortgage Now Inc., a mortgage broker.

The Holmes were notified the following month that their loan had been transferred to Countrywide Bank.

read full story

The Business of Mortgage Leads

Mortgage industry lead generation now includes loan modification prospects. One firm has reported a surge in demand for its leads while another claims its customers are getting more mileage out or their lead budgets by utilizing its low-cost offering.

LendingTree Model Stressed

Fresh off an initial public offering, LendingTree LLC's parent said its business model is strained as business is limited to only conforming conventional loans or mortgages insured by the Federal Housing Administration.

University of Mortgage Leads

One new lead service delivers live telephone calls and only charges for the lead if the call lasts more than 30 seconds. Other advancements in mortgage lead generation include guaranteed mortgage leads and a letter campaign for self-generated leads.

Several S.C. Lawsuits Filed Against LendingTree

The number of South Carolina Circuit Solicitors who have sued LendingTree Inc. now totals nine. The latest action focuses on the mortgage lead generator's violations of mortgage broker rules and fee disclosure requirements.

Illegal Mortgage Leads

For two years, an executive of a Countrywide Financial Corp. unit was successfully operating a mortgage leads business using data he stole from the company. He downloaded the records of 20,000 borrowers each week -- until he was caught.

Reverse Lender is Success Story A Florida-based reverse mortgage lender is boosting its warehouse lines, growing its originations and adding employees. An in-house mortgage lead generation system is credited with much of the firm's success.

Mortgage Leads Times

The latest mortgage lead offerings include FHA trigger leads and loan modification leads. Among advancements in mortgage leads is system that promises to convert dead leads into funded loans for $100 each. Other loan lead activity includes a lead powerhouse that has launched as a publicly traded independent firm and lawsuits against two firms that use telephone calls to generate loan prospects.

LendingTree Settles Lawsuit

LendingTree LLC has settled a four-year-old lawsuit in which it was accused of the unauthorized use of technology from another company for its online exchange between borrower and lenders.

Negative Amortization Leads

Borrowers with negative amortization mortgages are the target of a new offering.

Mortgage Leads Trends

As one of the biggest mortgage lead generation companies loses more than $150 million, government loan leads are rising to prominence. Meanwhile, a new report discusses how the business of mortgage leads is evolving.

Mortgage Leads Insight

A new lead analysis service helps originators determine which leads are most likely to convert to closed loans, while another offering promises to increase self-generated leads. A settlement between the government and two lead companies centered on how the companies advertised their services.