Looks like LowerMyBills and their too good to be true ads are pissing off everyone. As the new punching bags in the mortgage mess frenzy, it is LowerMyBills and Countrywide’s turn in the hot seat. During yet another report on deceptive lead generator ads Bob Sullivan (MSNBC) uncovers several LowerMyBills ads using an apparent endorsement from Oprah Winfrey.

"We were not aware of this unauthorized use of Oprah’s name and we have turned the matter over to counsel," said a spokeswoman, who asked that she not be named. "We have not endorsed this product."

LowerMyBills was mentioned in an Oprah Winfrey program earlier this year, but that reference had nothing to do with mortgages. Winfrey’s financial planning expert, Jean Chatzky, who also is the financial editor for NBC’s “Today” show, recommended that consumers struggling with debt look for lower-interest credit cards by comparing rates on Web sites like Bankrate.com or LowerMyBills.com.

And what lenders responded to the ad click-through?

Consumers who fill out the LowerMyBills advertisement by answering basic questions about their desired mortgage may encounter another familiar name at the end of the process. When MSNBC.com responded to the ad last week, a solicitation from Countrywide Financial Corp. arrived almost immediately.

Countrywide, the nation’s largest mortgage lender, is struggling financially as it deals with the fallout from just the kind of exotic, risky mortgages touted in the LowerMyBills advertisement.

It is interesting to watch the media transition so quickly from the lenders to the advertisers as the source of the grand mortgage implosion. Will the FTC, consumer advocate groups, and class action lawyers be next in line?

Tags: lowermybills, countrywide, oprah winfrey, lead generation

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