This article originally appeared here.
In a funding analysis of over 2 million Internet generated mortgage leads generated between June 1st, 2017 through September 30th 2017, iLeads.com® has found that online consumers drove over $50 billion in residential loan origination dollars.
Utilizing their nationwide lead collateral analytics solutions, iLeads.com® was able to determine that over 161,000 leads in this group of leads resulted in a funded loan after the date of generation.
The sample study was pulled from a select group of the largest Internet lead sources for the period.
Below are some of the data points from this study (additional data points available upon request).
Top performing states (by originated dollars) for September 2017 were:
1. California: $8,261,981,336
2. Florida: $3,758,186,847
3. Texas: $2,540,824,859
4. Nevada: $2,272,769,454
5. Georgia: $2,029,867,364
Top performing states by average loan amounts for September 2017 were:
1. Nevada ($504,595)
2. Louisiana ($402,510)
3. California ($400,547
4. District of Columbia ($378,849)
5. Hawaii ($331,311)
Total potential origination amount (from leads) for the period was $445,763,596,255
This study shows mortgage originators continue to find great financial success by using the Internet lead channel to acquire new customers. The study also shows, that there is great untapped potential remaining in consumers who have raised their hand via an Internet lead form but have not originated a loan yet.
The iLeads.com Internet Mortgage Lead Funding Study is an ongoing initiative undertaken by iLeads.com to provide funding statistics for the origination of Internet generated mortgage leads.
Previously an annual report, iLeads.com is pleased to announce that the report will be updated monthly (trailing) and will include a year-end recap.