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Mortgage-X.com: For Lenders: Lead Generation Program: Leads Return Policy

Mortgage-X.com Leads Return Policy

You may return leads for immediate credit if any of the following conditions occur:

  • Bogus Lead. The prospect intentionally gave incorrect information (for example, John Doe, 123-456-7890, none@hotmail.com and the like) or is a child.
  • Duplicate Lead. The loan request is a duplicate submitted by the same borrower (or by immediate family members) with respect to the same property (the same loan product).
  • Wrong State. The property being inquired is not located in any of the states that you checked in your list of states.
  • The loan request does not meet your lead criteria.
  • There is no way to contact the borrower because the loan request contains incorrect phone number(s) and e-mail address(es).
  • The prospect claimed never to have filled in the loan request form on our web site (sometimes spouses fill out our loan request form -- please ask prospects if someone in their household could have filled it out).
  • The borrower is not a property owner (unless in the case of 'Purchase' leads).
  • The prospect is a mortgage broker or a loan agent looking for a wholesale lender, not a homeowner looking for a loan.
  • The borrower claims to have been contacted by more than five lenders receiving leads from Mortgage-X.com.
  • The loan amount is less than $10,000 (2nd mortgage leads).
  • The loan amount is $35,000 or less (1st mortgage leads).

These are the only acceptable reasons for the credit.
 

You generally cannot receive credit if the reason for the credit is as follows:

  • The borrower has very bad credit, no available equity or very low income.
  • The loan amount is $10,000 or more (2nd mortgage leads).
  • The loan amount is over $35,000 (1st mortgage leads).
  • The borrower is already working with another mortgage company (we recommend contacting the borrower as soon as you get the lead so you can be the first to earn their business).
  • The borrower is just a rate-shopper.
  • You left messages and the borrower did not return your phone calls.
  • The borrower did fill out our online form, but is not interested anymore.
  • The property is located in the correct state, but the borrower lives in a state different than the actual property being inquired.
  • You didn't receive the loan request by e-mail because your computer (Internet mail server, Internet connection, email software, ISP, etc.) didn't work properly.
  • The borrower claims to have been contacted by more than five lenders (but by no more than five lenders receiving leads from Mortgage-X.com)*.

* Mortgage-X.com never sent any loan request to more than five mortgage companies. Moreover, some loan requests are delivered to 1 - 3 lenders only, and we have received even several complaints from borrowers who submitted the loan request on our site and got no responses at all. Certainly, if you have any evidence that more than five lenders received the same lead from Mortgage-X, we will thoroughly investigate your information. The problem appears to be, that some borrowers are just rate shoppers and apply at several web sites, similar to ours, simultaneously. You may ask each of them about the number of other sites they applied at. Please note also that after completing the loan request on our site the borrowers may continue shopping on their own.


Please note:

  • Bad leads are returnable 30 days from the day you purchased the lead via our web site only.
  • We monitor the ratio of lead returns to purchases and reserve the right to terminate your participation due to your failure to observe the conditions of our Leads Return Policy, or in the event of any discrepancy between you and Mortgage-X, or if you return more than 25% of the total purchased leads. In case of cancellation your account balance will not be refunded.
  • We reserve the right to change this policy at any time and without notice.

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If you have any questions or comments on matters that are not addressed here, please let us know.

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