We didn’t sell your info. The credit bureaus did.

Are you getting bombarded with phone calls after we ran your credit?

Over the last year as rates have increases trigger leads have become an increasing problem.  We have had customers reporting in that they are receiving 200+ calls and text messages from desperate lenders after we ran their credit.  I promise we did not sell customer info off.  The Credit Bureaus did.   Keep reading to learn more and how to stop it.

The Dark Side of Trigger Leads: Why They’re Problematic and How to Opt Out

In the world of real estate and mortgages, the concept of trigger leads has become increasingly controversial. While these leads are used by mortgage loan officers and lenders to identify potential customers actively seeking loans, they raise concerns about privacy and unwanted solicitations. In this article, we’ll delve into the issues associated with trigger leads and guide individuals on how to opt out of this practice.  Basically what is going on is the credit agencies know that a mortgage lender ran a potential borrowers credit and they sell that borrowers info off to anyone willing to pay for it.

The Troubling Aspects of Trigger Leads

1. Privacy Invasion: Trigger leads are generated based on a person’s financial activities, such as credit inquiries or property searches. Many individuals feel that this invasion of their financial privacy is unsettling.
2. Unsolicited Contact: One of the most significant complaints about trigger leads is the flood of unsolicited calls and emails that often follow. Consumers may find these contacts intrusive and overwhelming.
3. Information Sharing: Trigger leads involve the sharing of sensitive financial information with third parties, which can lead to data security concerns.
4. Potential for Exploitation: Some unscrupulous actors may misuse trigger leads to target vulnerable individuals, potentially leading to scams or predatory lending practices.

How to Opt Out of Trigger Leads

If you’d like to protect your privacy and reduce unwanted solicitations related to trigger leads, here are steps you can take to opt out:

1. Opt-Out Services: Visit opt-out services like OptOutPrescreen.com, which is the official Consumer Credit Reporting Industry website for opting out of pre-screened credit and insurance offers. You can opt out for five years or permanently.
2. Do Not Call List: Adding yourself to the do not call list will also help prevent and stop the phone calls.   Go to donotcall.gov to add yourself.
3. Credit Freeze: Consider placing a freeze on your credit report. This prevents credit reporting agencies from sharing your information without your consent. Keep in mind that this may also impact your ability to apply for new credit, so weigh the pros and cons.
4. Legislation:  There is currently a push in D.C. to make this a opt-in list not an opt out.  Ask your representatives for help!

Final Thoughts

While trigger leads can be a valuable tool for struggling mortgage professionals, they can be a source of frustration and privacy concerns for consumers. It’s essential to be aware of your options to opt out of these leads if you wish to protect your privacy and reduce unsolicited contacts. Understanding your rights and taking proactive steps can help you regain control over your personal information and maintain your peace of mind in the complex world of real estate and mortgages.

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