Online Mortgage Advertisers Seen Pulling Back On Ads
A piece from New York Times show that online ad spend from some mortgage advertisers is decreasing:
"The once obnoxiously ubiquitous ads from the mortgage lead generator LowerMyBills.com seem curiously absent from major Web sites these days. The notorious ads, with their dancing silhouettes, shimmying green aliens and bizarre boogeying office workers, were once plastered across many major Internet sites, including NYTimes.com. They are now much harder to find.", the NYT writes.
For a lead company like LowerMyBills, decreased demand means smaller media buys of course.
With tighter lending criteria and the end of the 100% LTV loan mortgage brokers appetite for purchase leads have decreased even further. Lendingtree, another online mortgage lead company, is trying to cut back on it's purchase leads in the wake of the mortgage credit crunch a source told Realtio.