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09-18-2014, 01:29 PM #1
The article seemed to leave out that the cost of origination has absolutely gone off the charts in the past few years and in most cases the broker does not make any money on a deal till a deal renews.
This article refers to large lenders going direct and cutting off most of their brokers.
The large lender they are referring to is Ondeck and the main reason the cost of marketing has gone off the charts is because Ondeck has outbid everyone else out there by 20-30% per click.
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09-18-2014, 02:52 PM #2
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09-19-2014, 06:51 AM #3
quick story here...about 2 years ago we were doing our normal PPC bids at $15 per click and suddenly out of the left field the bid jumped to $20...we did our research and saw that Ondeck was driving the cost up. now the normal practice if you want to outbid someone is to jump the bid by $1 not $5... fast forward to today...the cost per click is up near $35-$40 and because of company like Ondeck it keeps rising.So back to the point of the article...the cost of marketing and origination are literally off the charts and most brokers only see profits once a deal has renewed.
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09-19-2014, 01:04 PM #4
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09-24-2014, 12:33 PM #5
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09-18-2014, 04:04 PM #6
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