Monday, June 11th, 2008 – Newport Beach, CA.
iLeads.com®, a leading provider of Internet-generated consumer leads for the insurance and mortgage industries, has introduced the industry’s first predictive modeling service based on the actual outcomes of more than one million back-tested Internet loan leads. Branded as LeadScore™, the predictive modeling product allows lending professionals to identify which Internet loan leads are most likely to close and which offer the greatest return on investment (ROI). The process takes only milliseconds and can be performed on loan leads from any source in real time.
“LeadScore™ replaces the time-consuming process of traditional discovery and qualification with numerical scores that accurately predict a homeowner’s near-term likelihood to get a new loan,” explains Drew Warmington, CEO and managing partner of iLeads.com. “This allows lending professionals to prioritize their calls, zeroing in on the best leads first.”
Lenders who participated in LeadScore beta tests found that leads with the highest scores were four times more likely to become closed loans than those with the lowest scores. In terms of ROI, the highest-scored leads also resulted in 10 times the loan dollars originated per lead as those with the lowest scores.
To utilize LeadScore, lead purchasers forward leads generated from any source to iLeads.com, which evaluates and scores the leads in real time. iLeads.com returns the leads to the purchaser within milliseconds for calling. “LeadScore easily integrates with any existing system,” says Warmington, “yet it can increase fundings dramatically by indicating which leads to call, and which leads are more apt to provide the highest ROI.”
LeadScore is part of the LeadXL suite of lead enhancement products recently introduced by iLeads.com. The other products in the suite use similar technology to address a range of business intelligence and reporting needs, including lead enhancement, analytics, and auditing. “LeadScore, like all of the LeadXL products, allows lead buyers to achieve better sales results using their existing lead providers,” says Warmington. “LeadXL solves quality, conversion and business intelligence problems without expensive business changes.”
iLeads.com has been a leading innovator of online financial lead generation since 1996. Through its network of 185 websites, iLeads.com has attracted, validated, and qualified more than five million leads for the mortgage and insurance industries. Thousands of industry professionals count on iLeads.com to deliver a steady stream of convertible mortgage leads and insurance leads every month. Since 2001, iLeads.com has been a partner of The First American Financial Corporation (NYSE: FAF). More information about iLeads.com can be found at www.ileads.com.
Media Contact: Drew Warmington
Title: CEO and Managing Partner
Phone: 1-877-245-3237 ext. 113