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Case Study: When an 8% Funding Rate on Mortgage Leads is Not a Surprise

CASE STUDYClient Requirement:

  • A non-bank mortgage lender approached iLeads.com to purchase a list of 8,000 mortgage leads. We provided the lender with the list of mortgage leads and they had their sales team work on it. The lender’s sales team closed one loan from the list of 8,000, so the lender reached out to iLeads.com to discuss the quality of the list.

iLeads.com Solution:

  • iLeads.com provides uniquely qualified mortgage leads as we use our databases to match real time Internet inquiries with up-to-date financial and property data that covers 99% of the U.S population. The lender’s close rate did not sound right to us either, so we used our iLeads.com LeadXL Performance product to determine which of the mortgage leads funded and with whom. We found that 687 of the 8,000 mortgage leads turned into loans, which meant the actual funding rate was 8% and the gross revenue was $3.45 million.

Client Results:

  • Our client greatly appreciated this level of detail on the quality of the mortgage lead list that he purchased and the insights it provided regarding operational changes he would need to make to improve his close rate on loans. It also helped our client to understand the unique value of mortgage leads from iLeads.com and the value of our data and analytic tools to help him be more successful in a competitive market.

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