Industry NewsMortgage

New service aims to nix bad mortgage leads

LeadPolice plans to start 'policing' real estate leads, too

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A group of marketing professionals has formed a company they say is making it easier for mortgage brokers to buy leads from trusted sources. While other companies help connect lead buyers with leads, they typically charge lead sellers to advertise on their sites or take a cut of their profits. turns that business model on its head, letting sellers who meet the company's standards market themselves on the site for free, while charging buyers to use the service. Because LeadPolice doesn't depend on sellers for revenue, buyers can be assured the company has their best interests in mind, said Vice President Melissa Rosno. owes its allegiance to buyers, who share information about the quality of leads they obtain from approved sellers. Companies that fail to deliver are barred from the site. "A lot of Web sites out there have information on lead-generation companies, but for the most part they are charging money on advertising," Rosno said. Be...