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  1. #1
    Newbie
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    January 24th, 2007
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    Mortgage Merchant Afiliate Help
    I own a mortgage company and have been in the business for 10+ years; I am extremely interested in starting an affiliate program where my concept is a little different then the other mortgage/ Lead affiliate programs I have read.

    My idea is that instead of getting a lead with basic info that is typically called on or sold, the consumer could get all the information from my web site (The Rates, Fees, New Monthly Payments & Terms) and apply for the loan online, which would constitute a lead.

    My niche is I have the lowest rates and fees in the industry and if someone is really looking for a mortgage refinance my company can beat anyone’s rate.

    I have also been thinking in addition to paying a commission for the lead it would be nice to add a kicker so the affiliate gets a second commission once the loan closes as well.

    Finally, I am wondering if there is a way to start the program in the state of California only and grow from there. I am willing to pay a significant premium for this?

    I would be grateful for anyone suggestions or ideas!

  2. #2
    ABW Ambassador
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    January 18th, 2005
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    Quote Originally Posted by Ryan72
    I own a mortgage company and have been in the business for 10+ years; I am extremely interested in starting an affiliate program where my concept is a little different then the other mortgage/ Lead affiliate programs I have read.

    My idea is that instead of getting a lead with basic info that is typically called on or sold, the consumer could get all the information from my web site (The Rates, Fees, New Monthly Payments & Terms) and apply for the loan online, which would constitute a lead.

    My niche is I have the lowest rates and fees in the industry and if someone is really looking for a mortgage refinance my company can beat anyone’s rate.

    I have also been thinking in addition to paying a commission for the lead it would be nice to add a kicker so the affiliate gets a second commission once the loan closes as well.

    Finally, I am wondering if there is a way to start the program in the state of California only and grow from there. I am willing to pay a significant premium for this?

    I would be grateful for anyone suggestions or ideas!
    Someone mentioned some similar type of structure here a while back, with regard to a different space.

    For leads, it's generally payment per bonafide, legit lead in a flat amount, rather than percentage basis. I assume there will be payment if someone simply asks for more information and gives contact information or fills out an online app, with two payment amounts. IMHO it would have to be reliably verifiable for that distinction

    Payment upon closing in addition could be either way, flat rate or commission, I suppose, except that there would be no way for an affiliate to actually verify if a deal closed, or for how much.

    You can do a particular state for starters, it's all in how you present the pitch and how affiliates will promote your program.

    Oh, and welcome to the forums!

    Added:
    It looks like a lot of the questions were answered in this thread

    http://forum.abestweb.com/showthread.php?t=87298
    Last edited by webworker; March 26th, 2007 at 08:37 PM.

  3. #3
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    January 24th, 2007
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    Thanks for the reply. As I read my post I realize that just writing it shows what a Newbie I am.

    In terms of launching an Affiliate program what I really am trying to figure out is what an Affiliate is looking for so that I can see if it works for both sides and put a program together that makes everyone comfortable!

    I appreciate the link and welcome any suggestions or ideas!

    Thanks again!

  4. #4
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    January 24th, 2007
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    Quote Originally Posted by webworker
    Added:
    It looks like a lot of the questions were answered in this thread

    http://forum.abestweb.com/showthread.php?t=87298
    Yes they were very helpful!

    I have additional questions and was concerned that the "Introduce yourself Forum" was not the appropriate forum to get in to greater details of what I need to do to attract affiliates and get their ideas and start a dialogue?

    If I am still in the wrong forum please advise as I am New at this?

  5. #5
    Outsourced Program Manager e-Gazer's Avatar
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    January 18th, 2005
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    Hi Ryan,

    Welcome! Whether or not you're in the "right" forum really depends on what your additional questions are. This is the right forum for questions about becoming a merchant, launching a program, etc.

    If you have questions about other components of affiliate marketing (such as about programming, coding, datafeeds, etc.) I would suggest checking out the various categories for a more suitable fit. If you're not sure just post where you feel your questions would fit best. If it's truly in the wrong place, a moderator will likely move it to the right place anyhow.

    Hope that helps.

    Best regards,

  6. #6
    Member avanquest's Avatar
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    December 14th, 2006
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    Ryan,

    I have some experience in Mortgage leads. You an pay an affiliate for a lead but you cannot give them the "kicker" on the back end when the loan closes. This is illegal.

    I actually consulted with a business in my previous life on their affiliate program and his is the way they had structured their revenue model. All was well until I discovered their practice of the back-end payment (once the loan closed) was illegal.

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