When I was working at my last mortgage company, I found that most loan officers had a hard time finding a reputable lead company. Most would simply search for a company through google and yahoo, and be bombarded with links to every mortgage lead company in the world, which all seemed to claim they had the freshest mortgage leads, the best leads, and the best deal for them!Most lead companies have bogus claim, they can generate a hundred mortgage leads in one day for the specific criterias you desire. How is that possible if they do not know what are my criterias yet? Here is a reality check, to generate hot real-time online mortgage leads, a lead company has to have reputable websites, that you can go and visit yourself. You have to see what the consumer is being offered and ask whether you can meet their requirements.

Before investing any money, you have to do your home work.

Go to the sites of the companies that you are considering and read their terms and conditions, speak with reps in their customer service department and asked many questions, go to lead site reviews posted on the web to see what kind of experience other loan officers had with the companies.

One thing to keep in mind, No lead company can guarantee you a 100% closure ratio, and they are very up front about that, if that is what you are looking for, you can end your search now.

Still with me? Good!Here are some things to consider before making a decision:

1) PricingIf you are on a tight budget, lets say have only $1000.00 to spend, you will have to narrow your search to the lead companies that accept a $1000.00 or lower minimum. Some companies have deposit requirements, not allowing you to deposit less than $500.00, so this would not be the company for you.

2) Lead GenerationFind out how the lead company is generating their leads from. Some companies recycle their leads and sell them multiple time over and over. Others buy their leads in bulk from of other lead companies and resell them. Make sure you ask this very important question from the start. The better lead companies generate lead from their own sites, and allow you to visit the sites.

3) Return PolicyLook for a lead company with a great return policy. If you receive a lead with bogus contact information, there is no reason why you should not get your money back.

4) Quantity vs. QualityBe careful when you buy in bulk, when you can spend $1000.00 and receive 500 leads, chances are the leads are old and are being recycled, and the closing ratio is not so good. If you can spend $1000.00 and receive fifty to a hundred fresh leads, you will be better off.

5) Cherry Picking vs. FiltersCherry picking is a good feature, and a very popular one, it allows you to go into a site and view a lead before you purchase it, the better sites even let you know how many times it has been sold. Filters are the best features, they allow you to predetermine what kind of lead you want, and when a lead comes in matching your filter criteria, it is sent directly to you via e-mail, http post, xml feed, and more.

6) Customer serviceIf you are struggling to get a hold of someone, or your phone calls are not being returned, they are most likely not worth doing business with. As with all businesses, customer service is a big key, and the way they handle themselves on the phone can be perceived as a good indication as to how their company is run. 7) ReferralOne of the best ways to find a mortgage lead company, is to have one referred to you by a co-worker, or by someone within you organization who has had success with a lead company. Ask around and see what you can come up with.

8) Exclusive vs. NonexclusiveIf you want to get exclusive mortgage leads, you will pay a steeper higher price. However this lead will be sold to you only, getting rid of the competition. Non-exclusives leads are sold on average two to four times. This cuts the cost of the lead in half, but keep in mind, you are now competing with other loan officers. Remember, you get what you pay for.

9) Real-TimeAre the leads you are getting going to be in real-time, or are they being sent in bulk. This answer can uncover whether or not the lead company is reputable. If they have the technology to deliver leads in real-time, and let you get on the phone with the prospect within second if not minutes of the person filling out the information, that can drastically improve your closing ratio.

10) TimestampedTimestamped leads are really the only leads that should be bought. If a lead is not timestamped then there is no proof of when the lead was generated. This a major problem that has allowed crooked lead companies to sell you recycled leads and waste your hard earned money.

11) Origin-stampedOrigin-stamped leads are leads that are stamped with the website that originated the actual lead. You should look for lead companies that obtain their leads through websites they own and operate themselves. If they won't tell you their website or do not have them posted then it's time to look else where. Since that usually means they have obtained them from a third party companies and are recycling them to YOU!By considering these eleven qualities of a mortgage lead companies, you are well on your way to choosing the best lead company for you, and at the right price. Continue to gather as much information as you can before investing hard earned money.