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Teaming Up to Verify Lead Accuracy By Brad Finkelstein LOS ANGELES - If there is any one issue that B2C lead buyers would like to see resolved, it is the quality issue. The lead falls out because of incorrect, inaccurate, incomplete or no longer up-to-date information. As a result, notes Targusinfo, Vienna, Va., and Leads360 here, marketers are wasting dollars instead of seeing their leads convert into revenue. Leads360, a provider of sales lead management software, will be using the Targusinfo on-demand lead verification service to verify information. Mark Walker, the chief executive of First Preferred Mortgage Co., said in a statement "contactable consumer leads are the heartbeat of our expanding mortgage business." Adding the verification service to the Leads360 platform will increase its return on investment by sevenfold, he said. Read more...

What We're Hearing By Paul Muolo THIS JUST IN: We're starting to hear unconfirmed reports that Aurora Loan Services of Colorado is toying with the idea of originating loans again -- either through a conduit or the wholesale channel. Presumably, these would be Fannie/Freddie/FHA credits. In the old days ALS was the king of alt-A but that was a world ago when it was owned by the now defunct Lehman Brothers, a major player in subprime and alt-A. ALS and its bank affiliate were not part of the Lehman bankruptcy. The company -- which stopped funding mortgages in 2008 but still services/subservices -- had no comment whatsoever. If you have any information drop me a line at: Paul.Muolo@SourceMedia.com... If you read between the lines of all the media reports about Al de Molina "resigning" from GMAC Financial Services last week you would come away thinking that its board would like nothing more than to throw its mortgage affiliate, Residential Capital Corp. overboard. It seems auto lending is where GMACFS wants to be and that the board doesn't want to commit any more money to ResCap, which still uses the trade name GMAC Mortgage. GMAC used to have an active subservicing business that Tom Donatacci managed until he left for greener pastures. Will ResCap -- which is Tommy Marano's operation -- be sold? Can it be sold in this market? According to National Mortgage News' Quarterly Data Report, ResCap has $383 billion in mortgage servicing rights on its books, and ranks fifth nationwide. It is also funds about $20 billion a quarter in home loans. To order the QDR send an email to: Dearta.Todd@SourceMedia.com... Read more...

What We're Hearing Daily

I love a good 'wedge issue' so here goes: There is new talk in Washington about revising the idea of instituting a .25% tax on stock transactions to help pay for the $700 billion bailout of our nation's financial system. (Roughly, $250 billion of TARP money is left in the government's kitty.) This could be a real killer of an issue for Republicans because during the Bush years they were known in Washington as the 'Don't Tax and Spend Party' and now they have religion and are sounding angry for all the 'little guys' out there back in their districts who are unemployed. So, if the GOP is for the little guy, shouldn't they like the idea of socking it to Wall Street to pay for this mess? But wait, don't all Republicans have carved into their chests a motto that says, "Read my lips, no new taxes"? Meanwhile, the Ayn Rand capitalist pundits are on CNBC ranting about the idea because it will hurt all Americans because so many of us own stocks. But wait, if you're unemployed you've probably sold your stocks by now. Yesterday both parties were venting their spleens on Capitol Hill about Treasury Secretary Tim Geithner's handling of the bailout and the economy. (A lynch mob was formed, almost.) But wasn't it the Bush White House (and Bush Treasury) that pushed the $700 billion bailout through Congress? And wasn't it the Republicans who killed the first version of the bill, sending the stock market into a death dive? As for the Democrats, they like to spend, sure -- and they're kidding themselves about how to pay for anything they propose. Come next fall it certainly is going to get interesting in Washington. The whole issue of taxes (of any kind) boils down to this: do you want government-provided services or do you want to keep more of what you earn? Right now, I would suspect that 10.2% of our nation's eligible workers would love some government help, regardless of their party affiliation...

See Paul's weekly column here.

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