A safe place for mortgage brokers to buy leads

LeadPortal LLC (www.leadportal.com) is bringing safety and reliability to the mortgage lead business by offering mortgage brokers a one stop lead shop for all of their lead buying needs. Background checks are done on the lead companies and current lead return rates are publically posted.

March 27, 2004--LeadPortal is a privately owned limited liability company that neither buys nor sells leads; instead, LeadPortal acts as mediator to facilitate transactions between buyers and sellers in a safe and regulated way.

In the industry of buying and selling of leads, there are too many unknowns. There are doubts about buyers, sellers, origins of leads, and countless other concerns. Because buyers and sellers have "imperfect information" about each other, a significant amount of risk is involved in every transaction. The only way to reduce this risk is to provide both the buyer and seller with more complete information about the other. But how?

By monitoring and posting lead return rates, bogus lead percentages, sample leads, and customer feedback, LeadPortal will be in the unique position to close the information gap between buyers and sellers, thus reducing risk. LeadPortal will also do background checks on the lead sellers to verify they are honest and legitimate companies.

boberdoo.com, which is owned by Brad Seiler who is one of the partners in LeadPortal, has been developing lead distribution and managment systems since 2001. The team at boberdoo.com has developed the system powering leadportal.com. Over the past three years the team at boberdoo.com has developed over 50 lead distribution systems for various clients. With each new system and with each new client, boberdoo.com has learned more and more about the mortgage business and the lead business.

Lead companies are always looking for either more leads or more brokers to buy their leads. Mortgage brokers are always looking for consistent and reliable sources for leads. Because the lead business is not regulated in any way, both mortgage brokers and lead companies have to deal with many unknowns. Often times, these unknowns end up in one party losing time, money, and faith in the lead business. There are dishonest lead companies that resell "exclusive" mortgage leads many times or simply take brokers money and never produce the leads in the first place. The negatives of the lead industry are not only bad lead companies. There are mortgage brokers who do not pay their bills or they return leads claiming they are bad when really they are not. The list of problems is long.

After years of seeing the same problems plague the industry, LeadPortal was founded in order to provide a safe and standard way to do business.