PR.com: Business Directory, Press Releases, Jobs, Products, Services, Articles
 
Businesses Articles Press Releases Follow @PRcom
Press Release Pricing | News by Category | News by Country | News by US Region | Recent News | PR.com News on Your Site
 

Press Releases

 
iLeads

Press Release

Share      Blog

Receive press releases from iLeads: By Email PDF Version RSS Feeds:

In 2017, Online Mortgage Lead Generation Accounted for Nearly 20% of Total Refinance Originations in the U.S.


In 2017, Online Mortgage Lead Generation Accounted for Nearly 20% of Total Refinance Originations in the U.S.
Newport Beach, CA, May 30, 2018 --(PR.com)-- In the final analysis of over 7 million Internet generated mortgage leads, iLeads.com® concluded that online consumers drove over $117 billion in loan origination dollars in 2017 and accounted for nearly 20% of total refinance originations in 2017*.

For the final report for 2017, iLeads.com® utilized its nationwide property, title and lien data resources to analyze mortgage leads that were generated online by a select group of the largest Internet lead sources. Over 572,000 leads in this group resulted in a funded loan after the date of generation, with an average loan amount of $205,433.

Below are some of the data points from this study (additional data points available upon request).

Lead / Revenue:
Total estimated cost of leads (if purchased at $15 per): $108,905,505
Total estimated revenue in origination dollars ($5,000 revenue per loan):: $2.8 billion
Revenue potential to Originator ($5,000 revenue per loan): Over $36 Billion
Dollar Originations by Loan Types
Conventional: $81,908,563,388
FHA: $13,979,900,004
VA: $13,365,670,016

Line of credit: $5,952,611,440
Top performing states (by originated dollars) for 2017 were:
1. California: $30,869,968,722
2. Florida: $9,246,495,750
3. Texas: $8,868,987,195
4. Nevada: $5,009,489,602
5. Georgia: $4,779,567,865

“2017 proved once again that Internet leads convert to successful loan originations at a very high rate compared with other marketing methods,” said Drew Warmington, CEO of iLeads.com, LLC. “While Q3 and Q4 proved challenging for Originators, overall online consumers continue to be very comfortable researching loan options via the Internet.”

”With over one trillion dollars in potential orgination dollars in play, and nearly 20% of U.S. refinancing’s correlated to an online lead, I think that its impossible to argue that the online consumer is not well worth the time and resources in trying to capture. Some have argued that online leads do not close, or are not quality. Clearly the data proves that sentiment wrong,” Warmington said.

This study shows mortgage originators continue to find great financial success by using the Internet lead channel to acquire new customers. “By combining data and smart analysis with the core benefits of the online lead channel (fixed costs, continued growth and consistency), lenders have a clear path to success,” finshed Warmington.

The iLeads.com® Mortgage Lead Funding Study is an ongoing initiative undertaken by iLeads.com® to provide funding outcome data for the Internet mortgage lead generation.

For more information, please contact iLeads.com.

About iLeads.com®
iLeads.com® was founded in 1996 and is the nation’s leader in helping Lenders understand and derive value from their largest spend: customer acquisition. Counting both the largest non-bank lenders, as well as leading Internet lead generation firms as clients, iLeads.com LeadXL analytics platform currently witnesses over 10 million Internet mortgage leads monthly. Our unique analytics allow lenders to understand both what is occurring on their own sales floor, as well as gaining insight into what is occurring with their competition. Our analytics drive marketing and sales decisions that power online lending origination.

Contact:

Drew Warmington
1-877-245-3237
dwarmington@ileads.com

For media inquiries or to request additional information, please contact:
Drew Warmington, Chief Executive Officer, iLeads.com®
Email: dwarmington@ileads.com
O: (949)610-0113
Contact Information
iLeads
Drew Warmington
1-877-245-3237
Contact
https://www.ileads.com/

Click here to view the list of recent Press Releases from iLeads
Promote Your Business