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September 27, 2007

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JohnMacGuiness

From what I could understand about the site it's more about crowd sourcing: people post their rates so other can compare them with theirs. Also reading from Lendingtree's feedback they provide quotes not based on the best rates but based on what banks pay for that person's informartion. In a sense it's definetivly a leap ahead.

ConsumerControl

Take a look at SecureRights.com. What SmartHippo is doing is no different than LendingTree, Low.com or the myrid of other lead generation sites. Look at the following; http://smarthippo.com/LeadPoint.jsp. Essentially they are selling your information to the highest bidder through the SecureRights network.

Big deal if they add a button to rate a mortgage, why would i trust this community. This is really nothing but Bankrate 2.0. I can search rates and make comments about them.

Adam

Consumercontrol,

As George points out in a comment on my post, the SecureRights is a small, and optional, part of the functionality they offer. You can use their site fully anonymously to browse rates, and contribute your own based on an email address. You don't have to touch securerights or get a quote through them at all.

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