Some lead generators, in order to boost their business, may initially provide free leads to mortgage companies. They would require the mortgage company to get contracted with them later. Sometimes some companies provide free leads in the beginning of a stipulated contract - the mortgage company may have to pay for future leads.
People seeking mortgages are invited to fill online application forms, which are
then sorted according to various demographics. Important demographics considered
are credit status of the person, monthly income, geographical location, purpose
of the mortgage, etc. This list of leads along with the demographics is provided
to the company. These demographics help the mortgage company to decide their
strategy of contacting the leads and also shed some light on the genuineness of
Actually, some free mortgage loan leads may not be free in the real sense of
the term. There may be a very nominal payment to be made by the mortgage company
for acquiring leads, which will be much lesser than recruited loan generators.
There could also be registration charges for the website itself.
Free lead generators also begin asking for their commissions once their
goodwill in the market is set up. Till that time, they would attempt to scout
for genuine leads. Hence, in a way, it is safer to rely on free loan generator
On the other hand, there are critics who contend that free loan generators are all a big sham. Their basic question is, why would any site sell genuine leads for free? Such critics are usually sites that take commissions for providing leads to companies. Yet, the genuineness of free mortgage lead generators remains a hazy issue.