Okay, I feel a little better. Some of you are still out there and even spent a few minutes telling us what you have been up to. Thank you.
But it brought up a big problem that has been building over the last 6 months and that came to a head over the Holidays. Consumers are not being serviced. The amount of inquiries have dramatically gone up over the last 45 days or so and the level of lead buyers and mortgage companies obviously remain very low. I have heard from a number of buyers that they are up to their ears in applications. The fact that it has been quiet out there is because everyone is swamped.
In the last 45 days 1000′s, if not 10′s of 1000′s of inquiries have gone unmatched. Hence, some companies have halted marketing altogether and lowered affiliate pay outs. What does this mean and how will it possibly effect the chances of people going back online. My guess is it won’t effect people from going back online. In fact, my guess is people went back and filled out other forms until they eventually received a call. This is a tough time the home owner, no doubt. Guidelines are tight, lenders are backed up and there are fewer options.
For the last year I have been working on a platform that will help insure consumers needs are met and when they fill out an inquiry they will be called. I am never been one to promote anything here on this blog other then companies aside from my own, but this is a key situation that I have been working to resolve and at the same time increase the revenues for lead generation companies in every vertical. Currently LeadTrade is in alpha testing and will be launched for beta very soon. My hope is that building out a platform specifically for lead generation companies to monetize leads and analyze their filter metrics we will be able to meet the consumers demands as well as reduce the overall amount of times a lead will need to be sold. Grandiose? No. Reality? Yes.
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What is the current state of this problem out there. MBA is reporting application volumes reduced drastically. Are more folks who retrenched going back to buying leads? Are folks still overwhelmed? Just curious.
We are making headway towards returning to our response time standards through adding additional resources to the mortgage business from equity and volume is still very solid. Just checking in to see if lenders who had paused their campaigns have gone back to buying…
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