How many Revive leads fund a loan? How we measure it
About 1 in 10 of the Revive leads we sold has funded a loan. We did not ask the lender. We read the deed.
About 1 in 10 Revive leads we delivered has funded a loan with any lender: 9.46% of the 662,235 unique properties delivered across 126 lender orders since 2025. We matched each delivered lead to its property in county records and counted the mortgages recorded more than 7 days after delivery. This reading is as of 2026-10-08, with lien data through 2026-08-21.
What counts as a funded Revive lead
A Revive lead counts as funded when a qualifying lien is recorded against the property behind it more than 7 days after we delivered the order. The clock starts on the delivery date, the day the lender had the lead in hand. The 7-day gap keeps out loans that were already in motion before delivery.
A qualifying lien is a mortgage in lien positions 1 to 4, made by a lender that originates loans. Administrative liens recorded by HUD, VA or FHA (for example, a partial claim on an existing loan) are dropped, because no one originated a new loan.
The lender can be anyone. This is the share of Revive leads that funded with any lender, not the share that funded with the lender who bought them.
We count delivered lead records and unique properties, not people. When the same lead was sold in more than one order, the repeats are removed and the property is counted once. A record counts as funded once, however many loans it shows later. If the homeowner takes a second loan on the same property, that loan is added to the loan count and does not create a new record.
Purchase versus refinance is not in the data, so this page does not split the loans that way.
Which Revive orders are in the analysis
The analysis covers every lender order on file: 126 orders delivered between 2025-05-27 and 2026-04-29. Those orders held 1,175,238 delivered lead records. With repeats across orders removed, that is 662,235 unique properties.
Orders are left out only by these four rules:
- Buyers that do not originate loans (insurers, mail houses, lead-generation companies).
- Real-time, front-line orders, which are a different product from Revive.
- Control populations, where a lender sent us leads we never sold them.
- Orders whose delivery date could not be used.
Each order was observed from its delivery date to the end of the lien data. The median order was observed for 157 days; the shortest for 93 days and the longest for 427. The lien data runs through 2026-08-21. The analysis was run on 2026-10-08.
How many Revive leads have funded so far
62,618 of the 662,235 unique properties have funded so far: 9.46%, or about 1 in 10. Counted before repeats across orders are removed, the rate is 9.67% of the 1,175,238 delivered records.
Those funded leads carry 63,981 funded loans with any lender, after duplicates across orders are removed. The 63,920 loans with a recorded amount add up to $20.06 billion in loan volume. In round numbers: more than 60,000 funded loans and more than $20 billion in loan volume, verified in the lien records. This is loan volume with any lender. It is not revenue, and it is not one client's result.
| Loan type | Share of funded loans |
|---|---|
| Conventional | 39% |
| VA | 23% |
| HELOC | 21% |
| FHA | 13% |
| Other or not recorded | the rest |
By lien position, 67.3% of the funded loans are first liens and 28.9% are second liens. The rest sit in third or fourth position.
The pooled figure is a floor. A lead that has not funded yet can still fund next quarter, and a lead that has funded stays funded, so later data can only raise the rate measured on these same orders.
Why the number changed from 1 in 7 to 1 in 10
Dated history. These readings are kept for the record and are not current.
The 2026-07 reading said about 1 in 7 (14.4%) of the leads in the analyzed Revive batches funded a loan: about 63,105 funded out of about 437,346 leads, across 40 client Performance reports. It used a different rule. The clock started at the lead date, not the delivery date; a loan counted if its lien was recorded more than 30 days after the lead was created, with no upper cap; and funded leads were counted inside each order, so a lead sold in two orders could count twice.
Starting from the lead date overstated the rate. A lead can be months or years old when a lender buys it, so the lead-date rule counted loans recorded before the client ever had the lead. Counting inside each order also counted a resold lead once per order. The delivery-date rule with repeats removed fixes both, and the rate dropped to about 1 in 10.
The older readings, with their dates and rules:
- 2026-07 reading (lead-date rule): about 1 in 7, 14.4%, across 40 client Performance reports; a lien recorded more than 30 days after the lead was created, no upper cap. Published as the 2026-07 reading.
- 2026-06 named-funder cohort (frozen): 12.9% of 149,444 leads in one group of broker orders, read under the lead-date rule. It is a named-funder analysis of that group, not a blended rate, and it is never updated.
Limits of this funding rate
Records, not people. The unit is a delivered lead record matched to a property. We do not claim one record is one person.
Matching limits. Leads are matched to properties by address. The lien data we append carries no document number or parcel number, so a loan seen in two orders is identified by its property address, recording date, loan amount and lender. Two different loans that match on all four would be merged, and a small error in any of them could leave a duplicate.
Leads resold across orders. Revive leads are shared, so the same lead can appear in more than one lender's order. Each property and each loan is counted once in the pooled figures. Rates for a single order are not published.
Who is in the sample. These are orders iLeads delivered to its own lender clients. They are not a random sample of the mortgage lead market.
The lien feed lags. County recordings reach our lien data with a delay, and the current data stops at 2026-08-21. Loans recorded after that date are not counted yet, which is one more reason the rate is a floor.
Not your capture rate. This page measures how many Revive leads funded with any lender. It says nothing about how many any one buyer closed. How many of the leads that fund do so with a lender other than the original real-time buyer is a separate study: the competitor-capture study.
How often the funding rate is refreshed
Every quarter, under the same definition: the same exclusion rules, the same list of administrative lenders, the same win rule (lien positions 1 to 4, more than 7 days after delivery, any lender), and repeats across orders removed before any pooled figure. The same scripts run at their recorded revisions. Each refresh is published as a new dated reading, with its data-through date stated separately from its run date. Older readings are never edited. If the definition changes, that is a new revision with its own reading. The first refresh is due in January 2027.
Dated readings:
- 2026-10-08 (current): about 1 in 10 Revive leads funded with any lender (9.46% of 662,235 unique properties, 126 lender orders, delivery-date rule, more than 7 days after delivery). Lien data through 2026-08-21.
- 2026-07 (superseded): 14.4%, lead-date rule, 40 client Performance reports. See the history section above.
- 2026-06 (frozen, different analysis): 12.9% named-funder cohort, 149,444 leads, lead-date rule.
Questions buyers ask about the Revive funding rate
Does 1 in 10 mean I will fund 1 in 10 of the leads I buy?
No. About 1 in 10 Revive leads funded a loan with any lender, not only with the lender who bought them. What you close depends on how fast and how well your team works the leads. Every loan behind the rate is a lien recorded against the property.
Why do you measure from the delivery date and not the lead date?
A lender can only work a lead after we deliver it. Measuring from the lead date counted loans recorded before the client had the lead, which inflated the rate. From the delivery date, with a 7-day gap, every counted loan was recorded after the lead was in the lender's hands.
Are these unique borrowers?
No. The count is delivered lead records matched to unique properties, with repeats across orders removed. We do not claim each record is a different person. A second loan on the same property adds to the loan count, not the funded-lead count.
Why did the number go down from the earlier reading?
The 2026-07 reading started the clock at the lead date and counted resold leads once per order. Both raised the rate. The current reading starts at delivery and counts each property once. The title records are the same, and the rule is stricter. The result is about 1 in 10, down from 14.4% in the 2026-07 reading.
Can I check my own leads?
Yes. Send us one order's worth of your own leads that went quiet. Performance reads the same title records and tells you which of them funded, and with whom. The aggregate read is free.
As of 2026-10-08. Lien data through 2026-08-21. iLeads analysis of lien and deed records. Updated quarterly.