E-LOAN Closing Affiliate Program
Cyber Monday is probably a really good day for affiliates in general, but E-LOAN affiliates just got some bad news. Did they cut commission right before the Holidays like some scrooge merchants did? Nope. The mortgage crunch must have hit them hard. They are closing down their affiliate program and links will expire on Dec. 14th.
Dave from Freezing Hot just alerted me to the issue. Here’s one paragraph from the email they sent affiliates.
“In order to stay ahead of the current mortgage cycle and enable E-LOAN to maintain its leadership position in the industry, E-LOAN will begin scaling back some operations/programs to reduce its cost structure and unfortunately removing our affiliate program is one of them.”
Read the rest: Bad Move of the Day: E-loan Cancels Affiliate Program
“…to reduce its cost structure…” Properly structured the affiliate program should not be a revenue drain. If payouts are right, then the program should be more than paying for itself, unless its an issue of cutting back on staff or something.
Added 12/2 Shawn has an update: Why E-LOAN is Closing the Affiliate Program
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#1 Affiliate Fortune Cookies » Blog Archive » Tips: E-LOAN Closing Affiliate Program wrote on November 26, 2007 :
[...] 5 Star Affiliate Programs Blog – E-LOAN Closing Affiliate Program Tips: E-LOAN Closing Affiliate Program [...]
#2 roguespammer wrote on November 26, 2007 :
How Gay, I just joined them.
#3 You know the Mortgage Market is in Trouble when E-Loan cancels their Affiliate Program — Scott Fish wrote on November 27, 2007 :
[...] few others have received this email as [...]
#4 Stephen wrote on November 27, 2007 :
I got no worries even if they close down. I’ve found Tarsus Media Network with offers related to my niche. I will be using them hence forth
#5 E-Loan Trims Affiliate Marketing Program | Rice's Riffs wrote on November 28, 2007 :
[...] 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 [...]
#6 Why E-LOAN is Closing the Affiliate Program | Affiliate Marketing Blog by Shawn Collins wrote on December 2, 2007 :
[...] to my RSS feed or enter your e-mail on the top right to get updates by e-mail.Recently, there was a lot of fuss in the affiliate blogosphere about the closure of the E-LOAN affiliate [...]
#7 Clickfire wrote on December 28, 2007 :
This is disappointing.
#8 FHA Streamline Mortgage wrote on September 25, 2009 :
I wish someone would come back with a good affilliate program for the mortgage vertical… maybe in a few years.