Choice is power when shopping for mortgage

Don't rely on lead generation sites for accurate interest rate and loan fee combinations

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

Mortgage lead generation websites (henceforth LGSs) have become a major part of the home mortgage distribution system. LGSs collect information from potential borrowers visiting the sites, and sell it to mortgage lenders. There are dozens of LGSs, perhaps hundreds; I haven’t seen an exact count. Among the largest LGSs: LendingTree.com and LowerMyBills.com.

How lead generation sites work

An LGS attracts borrowers to its site primarily by promising to provide mortgages at attractive rates with one-stop shopping.