Lending Tree

csmith51 · Joined: 16 May 2006 Posts: 8 Location: Detroit area

I have heard that from a few of my clients that tried Lending Tree first. You would think that if 150 lenders looked at your application, one of them would be able to offer you financing.

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Keep in mind the people that are using Lending Tree's services on the lending side of things seem to be a little...off.

Greg Phillips · Joined: 13 Dec 2005 Posts: 123 Location: Chillicothe, Ohio

It is mainly large finance companies and brokers buying leads from lending tree.

I will be very general when I say this. People that buy leads tend to be struggling to do there own generation of business and likely have less tenure in the business or a lower level understanding of the business.

Not all but I would say the majority.

The finance companies... well they have partnerships with lending tree. They pay them a lot of money. Finance companies have high rates and fees. But, here lately they are shifting. I actually saw a 6% rate and 2% in fees from one. Borrower had a 740+ but 2% in fees is pretty low. I used to see 5-10% out of them.

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

I disagree with something you said there. I don't think there is any higher of a percentage of lead grabbers that fail than those that try the old 'build a relationship' concept. The difference is that there are a lot of people that work that way, and if you don't you don't really talk about it much. It's not any harder to make a living off of leads than going to realtors, it's just different.