Exhibit A
Mortgage Brokers work in Phoenix
Phoenix is a large metro with a deep bench of mortgage brokers, and the search demand reflects that. People here search for purchase loans, refinancing and cash out options, and they search by the place they live, from Scottsdale to Gilbert to the west valley. The paid search market around mortgage terms in Phoenix is competitive, with national lenders and lead generation companies bidding alongside local firms. The local field is a mix of franchise branches and owner operators, and the owner operators are the ones who benefit most from owning their own pages rather than renting attention through ads. The demand is there every month of the year, and it shifts between purchase intent in the moving season and refinance intent when rates move.
