Auto Finance Delinquencies Still Falling

Thank you for visiting our Lead Exchange Blog! I hope you will find it useful. Good luck!

In some positive news for the auto finance industry, it appears the delinquencies are continuing to fall. It seems that consumers are getting either more money coming in from their jobs to be able to afford their car loans, or possibly consumers are learning that to get back on track with their credit they have to pay their auto loans on time? There could be a combination of both of these things happening……. or something else????? A large portion of the US went through some extreme financial situations that ultimately left them with no choice but to not pay their bills and eventually resulted in really poor credit. However, today many are now employed and probably learning that to start getting better interest rates on their auto loans, credit cards etc., they have to pay things on time for a certain period of time to get their credit score increased. This could be some of what is happening with default rates falling.
When looking into the overall unemployment rate it seems that over the last year, unemployment rates have decreased, however since December 2013 rates have gone unchanged. So what is the driving force then behind delinquency rates falling? Is it because lenders have been loosening up on who they will now lend to, and these consumers are really trying to be on top of paying their bills, or is that not the case???? Either way, to hear that the overall finance delinquencies rates is a positive thing for all! We are looking forward to monitoring the future of the auto finance industry.

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Leadpile’s Payday & Installment Loan Forms

Leadpile is happy to announce that our new Microclick forms are live. Announced on our Leadpile Facebook page last week, we are happy to have rolled out a brand new installment loan form and an updated payday form. For those publishers that are wanting to get started quick and easy with generating leads, these are ideal! If you have a Leadpile seller account, you can access these in your account. If you do not have an account with Leadpile, contact us and we can get you signed up and generating leads today.
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There are 2 versions of the payday & installment forms available- 500X800 pixel (large multi-step) or a 450×400 pixel (small multi-step).

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NCAA Basketball Tournament & It’s Effects On Work Productivity

TODAY is the day….. the NCAA tournament begins! AND work productivity goes DOWN!! In today’s internet crazed world, having access to live streaming video and updated stats is at everyone’s fingertips? However, is this tournament all bad for employers because so many people follow this tournament very closely? According to fool.com, in a Challenger, Gray & Christmas 2014 report, the company says employers “stand to lose at least $1.2 billion for every unproductive work hour during the first week of the tournament.” This assumes two things: That 50 million Americans pick their own brackets (a figure estimated by a 2009 Microsoft poll), and that the U.S. average hourly wage, which is just over $24, is representative of college basketball fans. The article goes on to point out that even IT professionals at various companies will prepare ahead of time for this increased streaming of the games. However, it seems that more and more companies are not fighting this “distraction” as much as before. Why?
It seems DISH Network is one company that is promoting their employees to follow the big tournament while at work. The competitive spirit promotes a happier workplace and if employees are going to check the stats on their phones’s anyway, you might as well allow the access on their computers. So is your company one that is trying to prevent your employees from accessing these big games? Either way, Good luck to all those that are betting on these games, and may you have all WINNERS!

UPDATE:
So UCONN won! How much time did you spend online tracking all these games in the last several weeks while at work?

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LeadsCon Vegas 2014

Leadpile is excited to be attending LeadsCon Vegas on March 25th and 26th. This is a great way for us to meet up with new partners and catch up with current partners. If we are not working together yet, we would love to hear from you. Leadpile is currently focusing on payday loan, installment loan, auto title loan, auto finance and bankruptcy leads. If you are a publisher or advertiser in any of these verticals we would love to hear from you, OR meet with you at Leadscon in a few weeks!

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Leadpile Compliance UPDATE:

OM Posting and Seller Policy Changes
Implementation Deadline: March 10th
In response to lead Buyer demand and the shifting regulatory landscape in our industry, LeadPile is making some specific changes to its Open Market (OM) posting specs and Lead Seller Policies. These changes are necessary to help protect consumers and to help ensure that our Buyers are only sold compliant leads.

Your cooperation is vital to the longevity of lead generation in our industry, and we thank you in advance for your partnership. To avoid your account being temporarily paused, please abide by the required implementation deadlines.
Website Disclosures and Consents

As soon as possible but no later than March 10, 2014, all publishers working with LeadPile will be required to include the following disclosures and consents on their websites:

1) Disclose to consumers that “rates and terms of loans may vary by state and by lender.”

This disclosure must appear on your home page and form page.

2) Obtain consumer’s consent to use electronic signatures and to receive electronic communications such as notifications, disclosures, and documents from third parties.

This consent will help vendors and lenders provide necessary documents, communications and notices (for example, a notice of adverse action) to consumers electronically.

OM Posting Spec Changes*

As soon as possible but no later than March 10, 2014, please add these two fields to all your posts to LeadPile.

LeadPile is adding two required fields to the posting specifications for all open market leads: Domain_Name and User_Agent.

The Domain_Name field must contain the domain name of the website where the lead originated. Example: paydaysite.com (you do not need to submit the leading http or www characters). This information is necessary to satisfy compliance requirements, so that all leads can be accurately traced to their original source.

The User_Agent field must contain the entire user agent string from the consumer’s browser. This will help to identify mobile traffic better and to optimize lead-to-buyer matching for improved sales results and an enhanced consumer experience.

* Updated posting specs are available from your affiliate manager and may also be found in your seller account in the LeadPile portal.

PLEASE NOTE: These specific changes are not intended to be construed as or relied upon as legal advice provided by LeadPile or regulatory compliance advice. Please seek independent legal counsel to ensure you are in legal compliance relevant to laws and regulations impacting your advertising practices.

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CFSA 2013

That time has come again. Leadpile will be joining others in our financial services industry to discuss current events and the future of short term lending. This year’s CFSA Conference is being held in Orlando, FL February 25th through 28th. We welcome anyone that is going to this conference to reach out to us to potentially meet to discuss either how we can work together, or simply to discuss the happenings in the industry. For the last 14 years, the CFSA Conference has been a common place for those that want to be a part of the future of short term lending. There has been a lot of changes in the last year, and Leadpile is excited to be a part of the next “phase” of payday lending.

See you in Orlando!

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Agree It App: Good For Payday Customers AND Facebook?

Who knows what new app will come out next???? “Agree It” is an interesting new app that came out in the UK for it’s Facebook users. Basically, one Facebook user lends another Facebook user money. This concept is not a new concept, but the fact that it is being conducted through Facebook is a very different aspect than the current peer to peer or payday lending that is happening.
The Agree It app allows a borrower to establish that they are looking for money in one common place that is also shared with others that have an interest in lending money. Those interested in lending money present an offer to their Facebook “friend” and then the borrower can compare the various offers they can then choose from. They then decide what offer to take and an agreement is made to lend money. There is no legal contract or such in this transaction, however it is simply based on a trust amongst the Facebook friends. The person lending the money only has previous Agree It history to go off on on the borrowers ability to repay. There is certainly a lot of risk, however there is also a lot to gain with being able to lend money and get a decent return on it.
A payday loan is a short term loan that a consumer can obtain to help with unexpected bills or other obligations that come up unexpectedly. However, the ones doing the lending are businesses that are in business to provide these loans, not individuals lending to another individual. According to an article in The Telegraph, this new app makes it easier for those in the UK to obtain a loan and to do that from someone they “know”. I am not aware of anything like this in the US, but is it something that those in the US would be interested in utilizing? With so much scrutiny on the payday loan business, is this possibly an alternative to obtaining a loan through an online payday lender or a brick and mortar payday store? Are there legal repercussions to those that are doing the lending because they are not licensed to lend? Let’s see how everything pans out in the UK and if something like this makes over to the US.

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Are You Guilty of Procrastinating?

How many of you walk into work in the morning and scratch your head and say, what am I going to do today? You have these feelings of being overwhelmed and not knowing where to start your day. You then figure it out and have a hard time keeping up with what to do next and what to make the most important. In reality, some are just that way and really trying to become organized and a planner, is totally out of the question no matter how many times you have tried. For the rest of us, it is something we have to continue to focus on learning how to prioritize our day(s). Most people in their jobs these days, don’t have one task that they do 8 hours a day and 5 days a week. The new norm is you have 20 different things each day and you need to figure out what “hat” you wear and when. To do this you MUST learn to prioritize your day, each and every day. In order to achieve what is on your plate each day you can NOT procrastinate.
So what is the best way to stop procrastinating and have a successful day???? Here are a few helpful tips from Project Eve:

1. Breakdown your daily tasks to smaller achievable tasks that you can one by one cross off your to do list for the day.
2. Start at the top of your goals and continue to the next AFTER you have achieved the previous task. Completing a task will give you motivation to then complete the next one.
3. (I know this is a tough one) Take a breather during your day to help give you a nice mental break and this will ultimately help you with continuing on in your day successfully.
4. Before you leave for the day, set up what you will be doing the next day when you get in. This eliminates wasting time trying to figure out what task you are doing when you walk in in the morning. It gets your day started off with a bang!
5. Learn how to “turn off” email and the phone. If you sit and manage every email that comes in, when it comes in, you will be consumed by your email alllll day long. Learn how to not look at your email for certain periods of the day (or phone messages) to help you stay focused on something else that will ultimately help you have a more successful/accomplished day. This is probably a hard one for alot of people.
6. Reward yourself for completing certain tasks. Implement some reward for getting through some and maybe even have that reward be a mental break.
7. Don’t create a plan for the day that is unachievable. Any successful person in work or athletics knows that if you are goal oriented it will help with your success. However, if you set your expectations to high, you will fail and that is not a great way to start off your next day.

It definitely not easy to change your way of thinking, but doing the items listed above, truly will help you become more successful and accomplish more in your day.

Let’s all go out and have a great day!

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Richard Cordray Has His Hands Full

Unless you were in a cave back in 2008, you witnessed and probably experienced, a financial hardship in some fashion. The financial crisis hit Americans in every facet from loosing their jobs, loosing their homes or many of their hard earned assets. Unfortunately, there were many that experienced this financial crisis harder than others. Now fast forward 6 years later, and there is certainly some residual of this crisis that happened to many many Americans. Home prices are slowly coming back, but not fast enough for many people. Jobs are slowly being created, but not fast enough for those that lost so much. To help with getting our arms around this financial collapse, Richard Cordray was nominated to head the CFPB (Consumer Financial Protection Bureau).
The goal of the CFPB is to bring together many governmental agencies to create a financial reform plan. This will involve mortgage lenders, short term lenders like payday loan and installment loan companies, auto finance companies and any other institution that is dealing with consumers, credit & finance. The challenge will be trying to protect Americans from unscrupulous companies, and understanding that there is certainly a large number of people that are unbanked or underbanked because of what they have experienced in that last several years. Evaluation of financial products and services that have been created since 2008 for these sorts of consumers, need to have a chance to survive to be able to accommodate the large need to help those that can not go into a regular bank and get a loan anytime they want.
I think Richard Cordray is really trying to make a statement to consumers and other governmental agencies by appearing on the Jon Stewart show recently. Do we think that this is someone that the American public wants to see on a popular tv show????? Maybe it’s someone that the American public will see on tv and really feel comfortable knowing someone is trying to protect them? OR Is it a case of financial institutions, that are being scrutinized, not an appropriate move to appear on this show? Either way, our fingers are crossed that things continue to head in the right direction for the American public and their financial hardships.

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Amazon’s Octocopters the Next Big Thing?

prime-air_high-resolution01 It looks like we’re moving into the age where we just can’t wait a day or even two for packages anymore.

Amazon.com is in the infancy stages of consumers being able to go online to Amazon.com searching for the product you’re looking for and click to buy it. Then your package is prepared at the amazon.com fulfillment center close to your home, and then your “Octocopter” is dispatched, your package is loaded onto the aircraft – then 30 minutes later your drone is delivered to your door.
The “Octocopters” aren’t ready to take flight yet. Amazon CEO Jeff Bezos said in an interview on 60 Minutes that the drones would be ready to take flight in four to five years. But an Amazon spokesperson pointed to an updated post on the company’s website promising aerial deliveries as soon as federal rules change.
Those FAA rules could come as soon as 2015. The type of flights Bezos proposed are currently not allowed. Unlike some other drones currently used, these would be autonomous — they would fly without a pilot.
Bezos said, the drone models are currently testing have a range of 10 miles and can handle products under five pounds, which is nearly 90% of the company’s offerings.
“It won’t work for everything,” Bezos said. “We’re not going to deliver kayaks, or table saws this way.”
Amazon has long used innovative delivery strategies to gain an advantage over other retailers. Its warehouses, called fulfillment centers, are famously efficient. The company was also quick to recognize the promise of free shipping on larger purchases, and its Prime service now offers free shipping for a flat annual fee.
Unmanned aircraft flying around like something from the movies is a little scary. Seems like we’re not too far from the year 2062 and living like The Jetsons in Orbit City, where our briefcases will unfold into our cars and the company Spacely Space Rockets will become a reality soon. I can’t wait!!!

Sources – CNN Money, Fox News.

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Happy Thanksgiving From The Leadpile Family

Trees have gone up, stockings hung and lights adorn many houses as we gear up for the upcoming Christmas holiday…but wait, what about Thanksgiving!?!?! With a shorter than normal break between the Thanksgiving and Christmas holidays this year, it seems everyone has already started focusing on Christmas and overlooked one of my favorite holidays of the year. Not that there isn’t good reason to move up your Christmas efforts as retailers put out Christmas displays earlier each year making it is easy to pick up a wreath for the holiday season while shopping for your child’s Halloween costume. And while Christmas gets much of the attention during the holiday season, let us not overlook this special time to relax with family and friends and most importantly, give thanks.
Thanksgiving has always been one of my favorite holidays of the entire year. A holiday focused around the gathering of family and friends, eating more food than can possibly be healthy in one sitting and enjoying friendly banter while watching the NFL games and pulling for your favorite team playing that day. My family Thanksgivings have always taken place on the Saturday after the actual day. With 5 children in our family, it seems to be the best way my mom can get the majority of us there along with all of the spouses and grandchildren. Of course, it does not stop there as we are always known for good food and a relaxed atmosphere that has attracted many friends who are too far away from their own families to spend the day with them. Cooking begins days ahead and appetizers flood the kitchen island as we all pitch in to help with the last few hours of cooking the bird and side dishes.
The memory of Thanksgivings past and the anticipation of the holiday this week brings out my absolute favorite things about this turkey filled day…traditions and thanks. No matter what you and your loved ones do to celebrate, it is a day to reflect and to be thankful for the many blessings in your life. As I look around this Thanksgiving, I will see empty chairs where loved ones lost previously sat and in those chairs, I will see new faces as neighbors and friends stop by to join us for the first time this year. I will see family and friends whose lives have changed dramatically over the past year in various capacities and the love and support that surrounds each of them and carries them through. I will reflect on the many changes that have affected our industry the latter half of 2013 and have impacted so many lives. Watching companies close and seeing friends and colleagues lose their jobs and know the strain it will have on their families, especially through this holiday season. Reflection almost always leads to my list of what I am thankful for and this year is no exception. My family who provides unconditional love and acceptance. My friends who provide support, an ear to listen and more laughs than I can count. My colleagues at LeadPile as it is more than a place to work, it is a family. All of our affiliates, clients and vendors who join us in our mission to provide a lead generation marketplace built on quality and integrity. My respect and admiration for the people who are fighting to lift our industry up from its current state and spending countless hours away from their loved ones in order to do so.
No matter what your traditions, take a few moments this week to reflect on the many blessings and challenges that have presented themselves to you over the past year. Take time to rest, relax and rejuvenate so you can have a strong finish to the year. Take stock of what matters to you and share those thoughts with those you love.
From our LeadPile family to yours, we wish you a very happy and safe Thanksgiving!
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Since many of our blogposts are comprised with various stats and data, I thought this one should be no different. See below for some Thanksgiving trivia that you can share while gathered around the table this year.
- Sarah Josepha Hale, a magazine editor and author of “Mary Had a Little Lamb”, campaigned for years and to several presidents to make Thanksgiving a National Holiday. In 1863 she succeeded when Abraham Lincoln declared the last Thursday in November as a national holiday.
- It was not until 1941, that congress declared Thanksgiving as a national holiday.
- Thomas Jefferson thought the concept of Thanksgiving was “the most ridiculous idea I’ve ever heard.”
- Benjamin Franklin wanted the national bird to be a turkey.
- Turkeys have heart attacks. When the Air Force was conducting test runs and breaking the sound barrier, fields of turkeys would drop dead.
- Turducken is becoming more popular for Thanksgiving and is a de-boned turkey stuffed with a de-boned duck, which itself is stuffed with a small de-boned chicken often with stuffing between the various layers.
- Fossil evidence shows that turkeys roamed the Americas 10 million years ago.
- 91% of Americans eat turkey on Thanksgiving Day.
- Fifty percent of Americans put the stuffing inside the Turkey.
- The fastest time to carve a turkey is 3 min 19.47 sec according to The Guinness Book of World Records
- More than 40 million green bean casseroles are served on Thanksgiving.
- Twenty percent of cranberries eaten are eaten on Thanksgiving.
- A spooked turkey can run at speeds up to 20 miles per hour. They can also burst into flight approaching speeds between 50-55 mph in a matter of seconds.
- Domestic farm raised turkeys are almost twice the size of wild turkeys and cannot fly.
- Established in 1924, the Macy’s Thanksgiving Day Parade ties for second as the oldest Thanksgiving parade. More than 44 million people watch the parade on TV each year and 3 million attend in person.
- The first NFL game to be played on Thanksgiving with the Detroit Lions vs the Chicago Bears in 1934.

http://facts.randomhistory.com/thanksgiving-facts.html

http://www.coolest-holiday-parties.com/thanksgiving-facts.html

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Leadpile Ranked in Website Magazine Top 50

What a great way to end 2013…… Website Magazine released it’s annual “Top 50 Performance & Lead Gen Networks“, and Leadpile was listed as number 45. With all the competition in this space this is a great honor to be mentioned on the short list.

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Looking at the various companies that are listed on this Top 50 list, there are a lot of variations on what each company does. However, there are a few common aspects of each of these companies listed: innovative and a desire to bring together both advertisers and publishers. Both parts of the equation must be achieved successfully in order to make it a win-win for both publishers and advertisers. Part of that success involves figuring out ways to always stay ahead of the fraudsters. Delivering traffic/leads to advertisers that are simply bogus/fraud, do no one any good. Therefore, to stay successful in this very competitive space your company must think ahead and figure out ways to achieve the common goal for ALL parties: deliver high quality customers to high performing ads that meet the needs of the consumer(s). I am very excited to see this industry evolve even more, in the next few years, and we will all look back and say WOW how much it has changed!!

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