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"LendingTree is not involved in the real estate business except as a lead generator," he said.
The CMA also recommended that lead generator websites selling potential borrowers' details to lenders should be clearer about their activities.
Trillion Fund, a popular crowdfunding platform for renewable energy projects, acted as a lead generator for Secured Energy Bonds, and its failure was "deeply disappointing".
If none of them take him, the lead generator sells it on to the buyers at the bottom of the tree – another bunch of "brokers".
But what John doesn't know, as he fills in his details online, is that the site is just a lead generator for other lenders.
Instead, the lead generator brokers shove you over to the highest commission payer, likely to be the very worst deal in the market.
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The lead generators may ask, say, how many credit cards you have and what your average credit card debt is.
Those are called lead generators, whose sole purpose is to get the numbers of verified consumers to sell to telemarketers.
Lead generators may charge $8 for an insurance prospect; $35 for a finance lead; or $75 for a mortgage prospect, Mr. Meyer says.
It also wants the "lead generators" – the worst bottom-feeders in the murky world of payday lending – to be more closely supervised.
Lead generators are companies that set up consumer-friendly Web sites with the goal of funneling potential customers to businesses ranging from financial institutions to wedding photographers.
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