Lead Generation Disclosure

Choicefinan.online("we" or "us") is providing these disclosures to you. We are not a lender, even though you are applying for a loan through a website that we (or a third-party lead seller) operate. The following disclosures explain our business practices and how we will handle your loan request.

1. We have two networks: one where we sell leads to buyers and the other where we buy leads from lead generators. In our network, neither the lead purchasers nor the lead generators are aware of the identities of the other parties lead purchasers, nor are they aware of the terms of the credit products that are being offered to consumers.
2. Lead generators run websites that promote loans and allow visitors to apply for loans. Applications are sold to us by lead generators, and we then sell them to lead buyers. Online and offline loan providers, as well as, occasionally, data managers, data brokers, and remarketing firms, are the buyers. (Data managers are middlemen for lenders who outsource their lead-purchasing tasks, and data brokers are lead aggregators that sell leads to their networks of lead buyers after buying them from us.) The final consumers of the leads we provide to data managers and data brokers are unknown to us. Remarketing businesses purchase customer information to contact customers with marketing materials for goods other than the loans for which they applied.
3. We employ a "ping tree," which determines the order in which lead buyers have the choice to purchase a specific lead from us, to filter leads to lead purchasers. Each buyer's position in the ping tree is primarily influenced by the lead price they are willing to pay; the higher the lead price, the better the buyer's position in the ping tree.
4. A consumer who submits a loan application on the website of a lead generator is almost immediately forwarded to the website of a lender. The consumer is not alerted that the loan application has been sold to us or sold by us to a lead purchaser during this automated process, which just takes a few seconds.
5. The business does an initial evaluation of the lead generator's website to look for false or deceptive statements to customers before we "onboard" a potential lead generator into our network. After we "onboard" a lead generator, an automated technology called a "web crawler" is put in place to check the websites of the lead generator on a daily or weekly basis for false or erroneous claims. However, no technology is flawless, and lead generation companies may alter their websites without giving us prior notice.
6. Despite our initial research and continued automatic monitoring, it's possible that we'll buy leads from lead generators whose websites make false claims that could persuade customers to believe that the lenders in our network have been screened and meet certain requirements. Some lead generators made the mistaken claim that they were lenders. Additionally, lead generators can make untrue claims that they assist customers in locating the best rates or lowest fees or that they analyze customers' applications and pair them with suitable lenders.
7. Typically, our lead generators don't provide loans to customers directly, they don't choose the lenders who will review a customer's application, and they aren't involved with or informed about the conditions of the loan a customer receives after we sell the lead. Lead generation companies merely forward your application.
8. Contrary to what some consumers may believe, lead generators do not seek to match clients with the best loan for their circumstances or know the loan terms that lead purchasers will provide them. We have no way of knowing whether a loan is made or whether the borrower accepts or rejects the lender's terms once we sell the lead.
9. We don't demand that data managers or data brokers reveal who ultimately buys our leads. As a result, we are unaware of the identities of all lenders who receive consumer applications through our network of lead buyers.
10. We only do a quick basic check to see if the lead buyers in our network are following the law. Additionally, we continuously check the compliance of lead buyers. Without doing any independent verification, we heavily rely on the lead purchasers' information for this screening and monitoring, and we typically conduct periodic assessments no more frequently than once per year. There can be no guarantee that this limited screening and monitoring will weed out lead buyers whose services are inappropriate, unfair, dishonest, against the law, or inconsistent with the promises they made to us.
11. Lead buyers often give us feedback on the quality of our leads, including the number of leads that result in loans and the causes of leads that do not. We use this data to improve lead conversion by streamlining the lead processing process.
12. Some of our lenders are companies set up under the rules of foreign nations, sometimes known as offshore lenders, or by Indian tribes, known as tribal lenders. These lenders frequently assert their immunity from state control, disregard the laws of the states where the borrowers they lend money to reside, and deny that they are subject to jurisdiction in a location that is advantageous for the borrowers.
13. Compared to lenders who follow state legislation, tribal lenders and lenders from outside often demand higher interest rates. These lenders typically provide higher lead prices because of the higher interest rates they charge, placing them at the top of our ping tree.
14. A large number of the tribal lenders among our buyers offer contracts that stipulate that tribe law will be applied to the agreement and that a unique tribal dispute resolution procedure will be available.
15. You can get solicitations for a type of credit you are not looking for if you are looking for one and don't qualify for it. The terms of the financing that is being offered might not be as favorable as what you were hoping for. You are not required to accept or react to these requests.
16. If we sell your email address to a third party, they may use it to contact you about products and services you haven't applied for or aren't otherwise interested in. You are not required to accept or respond to these requests.
17. Lead buyers, such as data managers and brokers, constantly combine the information you submit with information about you that is already available from other sources, like public records and credit bureaus, to provide you with products and services. Some of these products and services might not be what you applied for. It is not required of you to accept or respond to these offers.