Leadpile’s Blog

Several years ago, how many of you were like me wondering what a “blog” was?? It is almost funny now for me to hear someone say…. What is a “blog”???? At this point in time, it is hard to understand how people can not at least recognize the word “blog”, with as much press that a lot of these celebrity bloggers get. Blogs have now become something for all of us to express ideas, and specifically for Leadpile the blog helps us to convey information going on in the lead generation industry. No matter what your purpose is for blogging, understand it is a great thing that evolved into something that is key to any company’s web presence.
Time.com states that blogs have been around for 15 years, however for many of us this is something that just came around. In the early stages of blogging there were a lot of at home moms that had taken up blogging as a way to supplement their income. Working with various companies and their products or services, at home moms were able to write influential information promoting these products for others to try them out. This was, and still is, a win win situation for both the at home mom who wants to be around their children, and the company that is getting their product talked about on the internet. So what could be next for blogs?
Leadpile Lead Exchange likes what can be conveyed through our blog to our readers. If your company is not utilizing a blog, then I would suggest incorporating one immediately. Besides being able to convey industry news to our advertisers and publishers, the blog allows us to have “fresh” content on our website on a regular basis. This is something that is very important to the search engines and generating that much desired traffic we are all looking for. So it seems there is really a lot of benefits with blogging, besides just a great place to say what you did last weekend. There are all levels of blogging, and it is certainly fit for just about anyone that wants to express any ideas- small or BIG! If you are lucky, you could even be a recipient of an award for having the best blog (Time Magazine has yearly awards). Got BLOG???????

Interest rates have gone down, and now many are wondering if it is really that time to refinance their home. The answer is YES. Not all situations are ideal to do a refinance, however there are things to look at with regards to entertaining the idea of refinancing your home right now.

According to ABC news, here are some common questions consumers might want to know before trying to refinance their home.

1. How much will a refinance cost?
2. Will a refinance save you money?
3. What kinds of loans are out there?
4. What are some common pitfalls?
5. What is the difference between a loan modification and a refinance?
6. If I have a prepayment penalty, should I still refinance?
7. If everyone wants to refinance, is the lending industry able to handle this rush?

Leadpile Lead Exchange generates a large volume of refinance (homeowner), loan modification, debt and home purchase leads. These are all consumers that are in this process of trying to determine what their best option is. No matter what the decision is, asking questions is key to knowing what is the best option for you and YOUR situation.

Everyone is still scrambling to get their shopping done, and Black Friday/Cyber Monday is officially over. These days, more and more people are looking to shop online to find the best deals, save time and energy.  To help with this cause, I researched some top retail websites listed by Hitwise.  This information is based on total internet usage through the end of last month. Maybe these are where the deals are at and we should ALL take a look.

1.  www.amazon.com

2.  www.walmart.com

3.  www.target.com

4.  www.bestbuy.com

5.  www.circuitcity.com

6.  www.jcpenny.com

7.  www.toysrus.com

8.  www.kmart.com

9.  www.khols.com

10. www.overstock.com

According to Hitwise, there is a lot of traffic being driven to these popular retail sites through email marketing.  Searching for the best deals is becoming a lot more convenient for customers because you don’t have to go physically store to store buying each store’s best deals.  While looking at these various sites myself, I will say that it looks like all of them have major deals going on and FREE shipping. My prediction is Cyber Monday is going to eventually become more and more popular than Black Friday.
I am sure companies that also work with Leadpile Lead Exchange, are currently working with online retailers to capitalize on this demand for increased traffic. This is a perfect example of how beneficial affiliate marketing can be to online companies!

Microsoft to take over Yahoo’s Search – Microsoft want to close the deal sooner than later! The search side of Yahoo is one of the most profitable component of their business, and MSN will have a huge advantage with this addition. 

From the advertising perspective, Yahoo and MSN are significantly less expensive than Google Adwords, and even their algorithms are different, which, for some Advertisers, makes the advertising more inexpensive. 

Google Search has improved the Search, and frankly they’ve done a great job. If you are using your iGoogle, now you can personalize the listings you see inside the Google SERP: add comments, pick results (which you can share publicly), or remove your “pick”. 

These tools are only available for the organic results though, which is great. I am wondering if this will be available soon for the Sponsored listings, which could be included in the formula for the Quality Score. I doubt that it would work, but you will never know. 

The bottom line is that Google has done this very nicely. 

Over and over I am bringing the attention to the payday loan industry, and really how it is not necessarily taking advantage of consumers.  I couldn’t resist a good post on the Payday Pundit, who brought up some good points about a payday loan.

“Let’s consider some alternatives for the working mom who is short $100 until payday, 14 days from now. She could get a $100 payday loan, pay $15, and the APR for that two week loan would be 391 percent..

She could also choose to write a bad check and pay an average of $48 in NSF and merchant fees. That would be a comparable APR of 1,251 percent!

Even if she has courtesy pay with her credit union, the average fee is $25, or an APR of 650 percent. Another option for her might be to not pay the $100 minimum balance due on her credit card, resulting in a $26 late fee—678 percent. If she chooses to not pay her $100 utility bill which may result in a $50 late or reconnect fee, that’s a comparable APR of 1,304 percent!

The argument can be made that by securing a payday loan to solve her cash flow needs, this woman is taking a proactive approach to her financial dilemma.

The Center for Responsible Lending indicates the 11 states that banned or limited payday lending saved consumers $1.4 billion in fees in 2006. But eliminating local payday lending activity does not eliminate the need for emergency cash loans. People still come up short prior to payday and the center does not address how these consumers managed their cash-flow problems. If they had to use one of the other alternatives, or had to drive to an adjoining state that made payday loans, or used the Internet to get an even higher priced loan, it is possible consumers in these states paid even more to solve their cashflow problems.”

This just keeps going back to the fact that there are bad with everything, and if you abuse the use of a payday loan you will NOT be in a better position.  However, as Credit Union National Association and the National Credit Union Foundation state there are other alternatives that could be worse for a consumer.  Education is key with payday loans and any other type of financial solution customers choose to take.

Question is, the holidays are now here and there are going to be families that need those gifts and food on their table. Is the payday loan the smartest solution for that consumer?  Leadpile Lead Exchange will be here no matter what the answer to that question is, to provide the service to the consumers that DO need this temporary loan.

According to DMNews, Yahoo was rated the preferred search engine for US Hispanics in October 2008.
Knowing this popularity, Yahoo has launched Yahoo Publicidad. This is Yahoo’s answer to reaching the large Hispanic population.  Yahoo’s Hispanic America Marketing director says, “Yahoo is the only marketing platform to integrate display, performance or search and mobile advertising.”  This site is a marketing platform for advertisers to reach US Hispanics, Latin American and South American consumers.  Many lead generation companies are fucusing on the Hispanic market.  This might be a good indication that companies like Leadpile Lead Exchange should focus more on this market.  

Yahoo has an eye wide open for targeting the hispanic population, maybe we should also take note too!

According to Forbes.com, the big 3 auto makers have concluded testimonies in front of Congress. They are requesting emergency financial assistance and failed in their first attempt in front of Congress. Round 2- they get another chance to plea their case. However, Congress is looking to see if these big 3 auto makers actually have a plan in place. According to Forbes, “What they likely want to see is how the carmakers will lower their labor costs and develop more fuel-efficient cars U.S. consumers will want to buy. The companies are happy to lay out their future product plans, which include more hybrids, plug-in electric cars and new turbo-charged gasoline engines that sip fuel. But the rest is tougher to do.”  Let’s see how the next week or so pans out for GM, Chrysler and Ford.  My fingers are crossed for you.

Leadpile Lead Exchange, and I am sure all other lead companies, are hoping something positive comes out of the meeting with congress. We would love to see the demand pick back up!  

Citigroup announced it is going to be helping some of it’s mortgage customers from going into foreclosure.  According to NPR News, Citi will be lowering mortgage payments on more than 100,000 people who have not yet fallen behind. They said they are looking at getting some sort of similar assistance to those people whose loan they service, but do not own. Other major lenders are also rolling out assistance programs to it’s customers to help try and help control more foreclosures from happening.  Some mortgage customers who are paying their mortgage on time, say what can Citi do for them for being a “good” paying customer?  This is a legitimate question, however at this point if Citi lets more people go in foreclosure, then this will hurt our home values and economy EVEN MORE!  We don’t want that.

My question is why did it take this long to roll something out like this? Shouldn’t this have been something the major lenders offered before we got to this point?  Some are still asking who is to blame for all this hardship in our economy and mortgage industry, however at this point it might be best to just get the economy headed in the right direction first. Wasting time on trying to place blame is something that Americans need to avoid, and instead focus on how we can get the economy headed in the right direction. Citi and these other mortgage companies, I do commend for helping to start getting the ball rolling!

Leadpile Lead Exchange comes across all sorts of consumers is all sorts of financial situations every day.  However, the number of people submitting requests for foreclosure, loan modification, debt consolidation are increasing dramatically.  These consumers need help and we are going to help in any way we can, just like Citi and these other mortgage companies are trying to do.  Everyone contributing to this resolution, will help us ALL get headed in the right direction.

It is official…

Leadpile Lead Exchange is officially generating the lead type of Loan Modification.  There are so many consumers out there wanting help with the mortgages they are in, and we are now connecting those consumers with companies providing the service.

The sad part about this lead type is that the some lenders that actually issued the loans are the ones now trying to offer loan modification options.  I know this is happening because I received a letter from my original lender, however I am not delinquent on my mortgage or not about to experience any “life changing” experience to cause me to need a loan modification.  My guess is they are just sending out notifications to everyone, in hopes that there are some that took out a loan with them that are falling behind at this point. Why were things like this not offered to the consumers at the time they got the original mortgage?  We all know there are some consumers who just could not wait to get that cash out on their refinance, however there are a lot of consumers that were maybe put in loans they had no business being put in.  Our lead marketplace is here to try and match up consumers with service providers, no matter what the circumstances were.

The information we are capturing for the loan modification lead type:

1.  Full contact information

2.  Monthly Income

3.  Credit rating

4.  Home value

5.  Mortgage balance, interest rate, and adjustable, fixed, or interest only interest rate

6.  Consumers monthly obligations

7.  Have bankruptcy filings been started already

Recently, while researching the loan modification lead type, I came across some very interesting (and helpful) information about loan modification. This is something that Leadpile Lead Exchange currently is not generating, however we are currently doing the much needed research to roll out this new lead type.
After speaking with a representative (Souban Houn) who is working in the industry, here is what she informed me that are some “events” that would make a consumer potentially eligible for loan modification.
Generally, loan modifications are considered by the lenders under the premise that the borrowers experiences some sort of hardship that resulted in their falling behind on payments. For instance:

Adjustable Rate Mortgage Reset- Payment (uncommon, but we will see more lenders accept this in the future)
Illness
Loss of Job
Reduced Income
Failed Business
Job Relocation
Death of Spouse or Co-Borrower
Death
Incarceration
Divorce
Marital Separation
Military Duty
Reduced Income
Medical Bills
Damage to Property (natural disaster or unnatural)
Overall, these are “events” that could happen to anyone unexpectedly. Therefore, this seems like a good alternative to going into foreclosure. The unfortunate thing is, some went into these mortgages already in a very tight situation financially, and nothing major has happened to them. However, now the rate is about to adjust and that just makes the difference between paycheck to paycheck TO falling months behind on the mortgage. Tough situation for both lenders and consumers.
Stay tuned for this lead type to be rolled out in our marketplace. There are a lot of consumers needing this assistance, and a lot of people like Ms. Houn looking to assist these customers (if they can).

Ford is stepping up and taking action to assist parents in controlling the speed when their teenager are behind the wheel. Teenagers account for a large percentage of car accidents, mainly due to speeding.  Ford has just introduced a new feature called “My Key”.  My Key will play a major role in decreasing potential car accidents caused by teenagers. 
Parents will be able to limit teen drivers to a speed of 80mph, using a computer chip on the key. Parents also have the option of controlling the stereo volume, which has been known to also distract teen drivers.  In addition, there is a programable chip that can be installed to set off a six second chime, if the driver is not wearing their seat-belt.  Parents can even instruct to set up an annoying chime that will keep going off if they go over 45, 55, or 65mph. Safety first!  
My Key will be rolled out in the summer of 2010 in both cars and trucks.  It will debut in the new 2010 Ford Focus, but also become a part of both Lincoln and Mercury models. 

Ford will get a lot of attention with the My Key.  I’m sure it will quickly spread across other recognized brands.  Smart move for Ford to lead the pack on targeting safety and teens. Teens of course are not thrilled, but overall it’s a great feature that Ford created to promote safety.
What do you think about this new My Key? Is it a thumbs up or thumbs down?