It is rare, these days, to turn on a news program and not hear a story related to the housing crisis. Just think about events since 2007: the collapse of Bear Stearns and the Lehman Brothers’ bankruptcy, snowballing Fed rate cuts, the government take over of Fannie and Freddie, not to mention countless other bailouts…all due to homeowner inability to make mortgage payments. In an environment where financial institutions scramble to prevent more mortgage write downs, a new industry is gaining momentum, that of Loan Modification.

A “loan mod,” in common parlance, is a series of negotiations between a mortgagee (or their representative) and the holder of the mortgage note. The goal is to create repayment terms that allow the homeowner to continue to afford their mortgage payments. Modifications to the mortgage note may change the interest rate, the term of the loan, or even provide a principal reduction.

A representative with insight into the loan mod process can often make a real difference to the homeowner and substantial profits. Consequently, demand for the ideal consumer has gained traction in the lead generation space. To address this growing demand, LeadPoint launched our own Loan Modification products.

By leveraging the LeadPoint trading platform technology we are simultaneously releasing both a Voice product as well as a Voice Verified Data product.

The Voice product delivers calls initiated by homeowners who respond to Loan Modification TV and radio spots. In these commercials homeowners are informed that they may avoid foreclosure if they are qualified for a low fixed interest rate and reduced monthly payments.

Data leads are generated from the same advertising, but are screened by an on shore call representative at a LeadPoint call center and converted into data format and sent in real-time to up to two buyers.

Tough economic times provide opportunities for innovative companies. LeadPoint’s Loan Modification Leads are another example of our continuous promise to such innovation.