{"id":2716,"date":"2008-03-07T01:28:45","date_gmt":"2008-03-07T08:28:45","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2716"},"modified":"2008-03-07T01:28:45","modified_gmt":"2008-03-07T08:28:45","slug":"zillow-mortgage-zoriginators-delight-or-bane","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2716\/zillow-mortgage-zoriginators-delight-or-bane\/","title":{"rendered":"Zillow Mortgage: Zoriginators’ Delight or Bane?"},"content":{"rendered":"

Greg Swann covered the big Zillow Mortgage announcemen<\/a>t so I won’t regurgitate the details here.\u00a0 I will weigh in my opinion and speculate about the consumer offering.<\/p>\n

I share Greg’s enthusiasm for an independent originator database.\u00a0 The industry can’t get it together and the Federal government may be violating the Constitution if they remove the licensing authority from the states.\u00a0 While the National Association of Mortgage Brokers<\/a> contemplates, private industry acts; and act they did.\u00a0 Here’s the other cool part; both banker-employed and broker-employed originators are required to register with Zillow and have their employment verified.\u00a0 Zillow accomplished what the government couldn’t.<\/p>\n

What Greg may have missed is that lead aggregators, like Lending Tree, really don’t offer much of a background check.\u00a0 If the credit card is good, they’ll sell leads. What Zillow has done is to disintermediate the lead aggregators and that, is a good thing.\u00a0 The unlimited access to consumers will be a great offering for originators because it will allow them to focus their efforts on delivering good customer service to Zillow readers.\u00a0 Originators who are not good marketers or who desperately want a consumer-direct channel may find joy in the Zillow offering.<\/p>\n

I’m not one of those originators because I focus my efforts on referral relationships with Realtors, accountants,\u00a0 and financial planners.\u00a0 I’m not one of those originators but I want to play.\u00a0 Why?\u00a0 The offer is just too damned interesting to pass up.\u00a0 Competition will be key as Zoriginators try to compete for business.<\/p>\n

Now, here’s my opportunity to be critical of the Zillow mortgage offering<\/strong>; they may attract the very least talented originators. We’ll see when the consumer offering comes out.\u00a0 The traditional “order takers” of the mortgage industry ,with time to engage in anonymous repartee with consumers, are not the most talented of our industry.\u00a0 In fact, they may lack the courage (and financial reward) to properly educate consumers about the appropriate loan product for their financial situation.\u00a0 Let’s face it; if you create a model that encourages the commoditization of a financial product, you leave little incentive to attract the heavy lifters who educate and Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Greg Swann covered the big Zillow Mortgage announcement so I won’t regurgitate the details here.\u00a0 I will weigh in my opinion and speculate about the consumer offering. I share Greg’s enthusiasm for an independent originator database.\u00a0 The industry can’t get it together and the Federal government may be violating the Constitution if they remove the […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[],"class_list":{"0":"post-2716","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2910,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2910\/the-odysseus-medal-competition-voting-for-the-peoples-choice-award-is-open-25\/","url_meta":{"origin":2716,"position":0},"title":"The Odysseus Medal competition — Voting for the People’s Choice Award is open","author":"Greg Swann","date":"April 6, 2008","format":false,"excerpt":"We have 14 entries on the short list this week, out of a long long list of 96 posts. I've already decided on the winner of the Odysseus Medal, so I'm not linking that way. This week's Short List is all Zillow Mortgage Marketplace posts, all of them written by\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2884,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2884\/zillowcoms-long-awaited-mortgage-lending-service-to-offer-anonymous-customized-loan-quotes-to-consumers-affording-loan-originators-the-opportunity-to-compete-transparently-for-free-mortgage-leads\/","url_meta":{"origin":2716,"position":1},"title":"Zillow.com’s long-awaited mortgage lending service offers anonymous customized loan quotes to consumers, affording loan originators the opportunity to compete transparently for free mortgage leads","author":"Greg Swann","date":"April 2, 2008","format":false,"excerpt":"Seattle-based real estate start-up Zillow.com tonight releases its long-anticipated mortgage lending product. We've known for nearly a month that Zillow's offering would include working loan originators in some fashion. What becomes clear tonight is that Zillow will basically be acting as a hands-off intermediary between mortgage-seeking clients and loan originators.\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2958,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2958\/zillowcoms-mortgage-marketplace-brings-anonymous-apples-to-apples-mortgage-rate-quotes-to-consumers-free-consumer-leads-to-lenders\/","url_meta":{"origin":2716,"position":2},"title":"Zillow.com’s Mortgage Marketplace brings anonymous apples-to-apples mortgage rate quotes to consumers, free consumer leads to lenders","author":"Greg Swann","date":"April 13, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Zillow.com's Mortgage Marketplace brings anonymous apples-to-apples mortgage rate quotes to consumers, free consumer leads to lenders Wouldn't it be great if you could get a broad array of mortgage quotes without having to make dozens of phone\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4339,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4339\/zillow-launches-mortgages-unzipped-a-new-consumer-focused-lenderblog\/","url_meta":{"origin":2716,"position":3},"title":"Zillow.com launches Mortgages Unzipped, a new consumer-focused lenderblog","author":"Greg Swann","date":"September 10, 2008","format":false,"excerpt":"Hither. The weblog will be an adjunct to Zillow Mortgage Marketplace, with a crew of loan bloggers and frequent ZMM mortgageurs providing the content. Our own Brian Brady and Tom Vanderwell are early contributors, and Zillow's man on the job, David Gibbons, will be looking to add more writers as\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2717,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2717\/mortgage-complaint-welcome-to-the-world-of-consumer-policing-at-zillow-mortgage\/","url_meta":{"origin":2716,"position":4},"title":"Mortgage Complaint? Welcome to The World Of Consumer-Policing at Zillow Mortgage","author":"Brian Brady","date":"March 7, 2008","format":false,"excerpt":"How can Zillow Mortgage become the online edition of the Better Business Bureau for mortgage lending? It just did. The future of consumer complaints is in transparency; breaking down the walls of the \"smoke filled rooms\" where industry insiders shear sheep and protect their own. This mortgage crisis has seen\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2886,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2886\/zillow-mortgage-i-wasnt-first-so-i-want-to-be-last\/","url_meta":{"origin":2716,"position":5},"title":"Zillow Mortgage: I Wasn’t First, So I Want to Be Last","author":"Brian Brady","date":"April 3, 2008","format":false,"excerpt":"Zillow Mortgage announced its Mortgage Marketplace today with the ceremony of the opening bell on the NYSE.\u00a0 I applaud them for bringing transparency and reputation management to an industry that needs both. Originators, who have been around the block, understand my title; I'll wait and bring the best offer, last.","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2716"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2716\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}