Its a rap on the KeyLeads and iLeads playoff and KeyLeads pulls out the win with 57 votes. Voting seemed quite normal and no shenanigans occurred. It was a fair fight that saw a consistent flow of votes throughout the day for KeyLeads.
KeyLeads will now go on to face Bills.com in the next round and should be a good fight.
Next up we have two PPC powerhouses Low.com and LowLender. Both claim to generate 100% of their leads in house nad work with no affiliates. LowLender has a proprietary PPC management system that maximize bids to the 10th degree. The question is who can rally their client base to vote.
Who do you think is better???
Results:
Round 1:
LowerMyBills VS. Nextag
WINNER: LowerMyBills 45 votes to 31
Round 2
Adchemy VS. QuinStreet
WINNER: QuinStreet 34 votes to 21
Round 3
LeadPoint VS. Bills.com
WINNER: Bills.com 63 votes to 47
Round 4
KeyLeads VS. iLeads
WINNER: KeyLeads 57 votes to 18
Round 5
Low.com VS. LowLender
Round 6
ReallyGreatRate VS. BigMortgageLeads
.
.
.
KeyLeadsOnline – you maybe not aware of this
but your Google ads are illegal. The FTC is investigating lenders – you may want to clean up your act as you and your clients may be seriously liable.
Here is a KeyLeadOnline ad today, as found on Google for the keyword “refinance”. 2.9% is not the APR – its actually not even the interest rate. This ad is way illegal per Regulation Z.
Here is the ad:
Refinance As Low As 2.9%
Rates As Low As 2.9%. Save Now!
Up To 4 Free Quotes. No Obligation.
http://www.HomeLoanTrust.com
Here is the disclosure on the site
For example, the start payment rate is 2.75% while the interest rate will be based on a monthly adjusting index such as the Monthly Treasury Average, or “MTA” index, which is currently at 4.522% (12-MTA as of 1/18/2008), plus a margin of 1.75% to 5.05%. The margin is based on the selected prepayment penalty from zero to three years, selected points, and adjustments for FICO, documentation (stated or full); loan to value, cash out, and other criteria. Typically FICO scores range above 600 with higher FICO scores having smaller pricing adjustments then lower FICO scores. In this example, if the loan funded had a margin of 2.45%, the start rate for the first month would be 2.75%, but the fully indexed interest rate would be 6.972% (and an APR of 7.33%) based on the total of the index (4.522%) plus the margin (2.45%). Since the payment is still based on 2.45%, it is likely that the accruing interest will exceed the minimum payment amount, resulting in negative amortization. At the end of each 12-month period, for the first five years, the start payment rate can be adjusted up 7.5% of the payment amount subject to potential changes and limits contained in your loan contract, mortgage, or other agreement. The lender will cap the negative amortization at 115% of the original loan amount although the cap can fluctuate based on state laws, lender programs/guidelines, and other reasons.
Here is more info:
Domain Name: HOMELOANTRUST.COM
Administrative Contact,
Technical Contact:
Ross, Neil ctouriz ( @ ) keyleadsonline dot com
Key Leads
1688 Meridian Ave.
Ste. 416
Miami Beach, FL 33139
US
3056734187
[Reply]
Here is Regulation Z§ 226.24
The KeyLeadsOnline Google ad should say 7.33% not 2.9%. If one rate is shown, it MUST be the APR.
Advertising.
(a) Actually available terms. If an advertisement for credit states specific credit terms, it shall state only those terms that actually are or will be arranged or offered by the creditor.
(b) Advertisement of rate of finance charge. If an advertisement states a rate of finance charge, it shall state the rate as an “annual percentage rate,” using that term. If the annual percentage rate may be increased after consummation, the advertisement shall state that fact. The advertisement shall not state any other rate, except that a simple annual rate or periodic rate that is applied to an unpaid balance may be stated in conjunction with, but not more conspicuously than, the annual percentage rate.
[Reply]
Thanks for the info TheFed.
This is uncalled for and should be eliminated immediately
[Reply]
I am really shocked!
[Reply]
I notice “leadcritic” above isn’t hyperlinked. Is it you?
The FTC isn’t something to screw with…
[Reply]
Just noticed posts aren’t being “moderated”. Is that a change?
[Reply]
Above was just to prove a point…
[Reply]
The shocked comments are me…I placed them from my iPhone and didn’t put the website.
Also, I am still moderating and watching every comment on the blog, but am not approving every single one. This way comments come up in real time, not matter what I may be doing at the time.
[Reply]