Trigger Leads

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Making Cents of Mortgage Trigger Leads!


 

What are Mortgage Trigger Leads?

Simply put, mortgage “trigger leads” is a marketing tool, provided by credit bureaus, to identify potential customers utilizing information from a consumer’s credit report after applying for a mortgage loan. Credit bureaus often sell this information to other mortgage lenders, who then solicit those consumers, resulting in unwanted calls.  

 

How do Trigger Leads Work?

When you submit a mortgage application, we are required to pull a credit report to review your credit history. After pulling your credit report, the credit bureaus (Equifax, Experian, and Transunion) sell your contact information and credit data to other mortgage lenders for cold-calling purposes. This is known as a mortgage “trigger lead”. 

 

 

Does Ascentra Participate in Trigger Leads?

Absolutely NOT! We believe in building relationships with our members and community. We focus on providing in-house, local underwriting and servicing from knowledgeable staff focused on providing you with the best member experience. We do not purchase lists from credit bureaus, and we would never and will never sell our members information. In fact, we are actively working with legislators to enact laws that protect our members from these predatory practices.

 

Are Trigger Leads Legal?

Unfortunately, they are. While many in the industry feel this sharing of information violates federal privacy laws, the government feels they encourage healthy competition among lenders. Unfortunately, while the intention behind trigger leads may be good, the constant number of unsolicited offers can feel intrusive and inconvenient for most people. Additionally, some lenders act in an untruthful manner and pretend to represent the organization you applied with. 

 

Can I Opt-out of Trigger Leads?

While it may not be possible to eliminate all solicitation calls, you can take the following actions to help reduce them:

  • Register at OptOutPrescreen.com or call 888-567-8688 to opt out of information sharing by the major credit bureaus. Along with preventing trigger leads, this also prevents the sale of your information for pre-approved credit cards and insurance offers.  If you opt-out online, the request will stay active for five years.  If you opt-out by mail, the request will be permanent. Although the lead time may take up to five days to take effect, this is a free service to help you reduce solicitation calls.

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  • Register your phone on the National Do Not Call Registry at DoNotCall.gov. to reduce telemarketing calls. You number will show on the register within 24 hours but may take up to 31 days before sales calls stop. This registration never expires.

 

 

 

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