LeadCritic just highlighted an interesting new social networking form of rate comparison. SmartHippo allows consumers, brokers, and banks to post rates and payments. Then, from this information, consumers can quickly shop rates and payments for their situation. LeadCritic’s initial review of SmartHippo:
The rates on SmartHippo are posted by its users and participating banks like Quicken Loans and Bank of Internet. The site gives you ability to input your specific situation, such as credit score, equity, loan amount, etc and compare your offered rate to users rates with the same criteria. SmartHippo is also a lead generation company and if user choose they can also have up to four brokers call them. I have put in a few calls and once I receive a call back I will pass along the information to you, as far as pricing. I will also try to extract more information about their user base on the call.
As a broker you are able to post your own rates, similar to BankRate, view what rates users are claiming to have received from you and also track your competitors.
To LeadCritic’s point this could be another interesting vignette in transparency, social content, and social networking combining to evolve lead generation.