E-Loan apparently, in an interesting declining mortgage market strategy, cancels its affiliate program. Scott Fish, an SEO expert, alerts us to another mortgage lender move to survive in an increasingly challenging market.

I have to agree with Dave Rigotti of Freezing Hot that this is seems counterintuitive for a loan originator that was built on the Internet and may also be counterproductive for the long view of the company:

What a way to make thousands (guess) of affiliates - people who you’ve built a relationship with over a number of years, stand by your product, help bring in leads, pissed off. Not only that, but when the mortgage industry rebounds and E-loan (should they) decides to bring an affiliate program back, they will have a tough time recruiting. I really hope there is more to this than meets the eye, because I seriously see this as a bad move.

How expensive could this portion of E-Loan’s marketing budget be since it is administered by Commission Junction, according to E-Loan’s email, and theoritically you are pricing your affiliate buys correctly.

I wonder if E-Loan’s loan officers know they are getting less leads for Christmas?

Tags: eloan, affiliate marketing, commission junction, seo, marketing, mortgage, internet leads