SOURCE: LeadPoint

March 20, 2008 08:18 ET

LeadPoint Launches FHA Verified Leads to Help Mortgage Lenders Target Eligible Borrowers

Leads Marketplace Launches Industry's Most Effective Targeting to Identify FHA Qualified Borrowers and Lower Customer Acquisition Costs for Lenders

LOS ANGELES, CA--(Marketwire - March 20, 2008) - LeadPoint (www.leadpoint.com), the world's first and largest online leads exchange, today announced that it has introduced Federal Housing Administration (FHA) verified targeting into its marketplace to segment FHA eligible leads for mortgage lenders. The new pre-screened FHA leads will help mortgage lenders identify and target only those potential customers that meet the primary HUD lending requirements for FHA financing. LeadPoint is also now utilizing the updated loan limits by county recently promulgated by HUD.

As a result of the current mortgage market environment and the tightening restrictions on conventional financing, FHA loan volume is expected to triple over the next three years. FHA refinancing has already increased by 125 percent within the past year as more homeowners have begun to explore better mortgage options. While others in the lead generation business are beginning to offer some form of FHA leads, LeadPoint's new FHA product is more refined than any other in the industry. LeadPoint's filtering and segmentation efforts will help mortgage lenders and brokers select only the most qualified customers before they buy, instead of forcing them to sort through leads they have already purchased.

"LeadPoint is clearly an innovator in the mortgage leads space," said Diana Smith, Director of Marketing for Ameripath Mortgage. "LeadPoint's new FHA program seems to address all the issues that current programs are suffering from. We are excited about this new and innovative product."

LeadPoint's new FHA product will use even more conservative loan-to-value (LTV) ratios than required for FHA eligibility. Pre-screened HUD county by county maximum loan limits are also included as a targeting feature for lenders. Unlike many competitive offerings, the questions on LeadPoints' seller forms will not be pre-populated to "yes" or "no," thereby requiring consumer selections and generating a more precise match between consumers and lenders. LeadPoint's more thorough consumer inquiry process provides a better experience for borrowers and lenders, since borrowers will not be contacted by lenders that cannot service them.

"Our FHA product is the most robust in the industry," said LeadPoint CEO Marc Diana. "Our dynamic forms go beyond other products that don't tell the whole story, asking questions such as 'Have you ever had a late mortgage payment?' or 'Have you ever filed for bankruptcy?' We're attempting to go much deeper with the information to provide the most effective consumer experience, generate highly qualified leads and ultimately help our mortgage lending clients add new customers."

LeadPoint has seen remarkable growth across the 16 verticals in which it trades leads. With more than four million leads traded to date, LeadPoint's revolutionary platform provides lead buyers with unparalleled ability to profit due to precise control of their lead targeting, while allowing lead sellers to benefit from immediate transparency into the true value of their marketing efforts. The strength of this platform, which benefits both buyers and sellers of leads, has widened LeadPoint's market share and enabled all of its lead verticals, including mortgage leads, to continue rapid growth while many in the industry are seeing their businesses decline.

About LeadPoint

Founded in 2004, LeadPoint is the world's first and largest leads exchange marketplace. Leads are competitively priced based on criteria and orders from members of the LeadPoint community. The platform allows buyers to change orders in real time, and enables sellers to more efficiently market leads and to enter multiple verticals simultaneously. LeadPoint trades leads in numerous verticals, including consumer lending, consumer credit, education, automotive and business services, and provides a single platform that allows thousands of buyers and sellers to simultaneously engage in trading leads. The privately held company is based in Los Angeles, CA. For more information, please visit LeadPoint at www.leadpoint.com and www.leadpoint.co.uk.

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