Seasoned mortgage brokers and lenders know they must always be working with up-to-date, accurate and qualified home purchase leads, refinance leads, debt consolidation leads, second mortgage leads, home equity leads, and other loan prospects to generate a constant stream of new clients and remain successful. However, in today's volatile mortgage lead generation market, lenders today are concerned with the quality of their leads.

Here are some factors to consider when evaluating mortgage leads:

Age and Accuracy of Leads

Common complaints among lenders are that leads they purchase are outdated or inaccurate, including such things as outdated addresses, phone numbers, borrower credit ratings and whether or not the borrower still owns the home. Internet leads are generated by loan shoppers themselves, so the information will more accurately depict each borrower's most current status, address, phone numbers and other contact information, making it much easier for the lender to follow up and close the loan.

Lead Exclusivity

Many times, telemarketing leads are non-exclusive, meaning that a large number of brokers are buying the same leads. With more and more people avoiding telemarketers, it's hard for them to generate fresh, exclusive leads. ExplainPlease.com states that people are joining "Do Not Call" registries and using caller ID and privacy managers to avoid telemarketers. On the other hand, borrowers themselves constantly generate online leads by filling out forms at mortgage loan websites at all hours of the day and night. With fresh leads always being generated, it's easier for lenders to get exclusive leads. While exclusive leads cost more, the probability of closing is greatly increased due to the lack of competition for the lead.

Lead Delivery Time

If a lead is not delivered within a 24-48 hour time period, the lead loses value and the closing percentage drops dramatically. Internet leads are typically real-time mortgage leads. For example, LeadPlanet.com delivers its leads instantly. Lenders work with LeadPlanet.com lead representatives to set up custom filters in LeadPlanet.com's database. The lead is e-mailed to the lender immediately when a borrower that meets the lender's criteria fills out the online application.

Lead Source

It is best if the mortgage lead makes the initial contact. For example, on the LendingTree.com site, buyers initiate contact by completing a simple form. Then, they get up to four competitive loan offers from major, national, regional, and local lenders across the U.S.

The Internet is gaining popularity as a way to shop for mortgage loan products, as people are getting more wary of telemarketers. Lenders are also enjoying cost effective online leads that are constantly delivered to them in real time right after they are generated.