First of all, what are trigger leads? When you submit a mortgage loan application, your credit information is obtained through a "hard inquiry" which is then reported to credit bureaus. The data from these inquiries is then shared by the Consumer Credit Reporting Companies (Equifax, Experian, Innovis, and TransUnion, collectively) as a marketing product. Under the Fair Credit Reporting Act, the Consumer Credit Reporting Companies are permitted to include your name on lists used by creditors or insurers to make offers or insurance that are not initiated by you. This process usually happens shortly after your credit is pulled, and is known as trigger leads. These leads can come from a wide range of companies, and may result in being inundated with unwanted solicitations.
The good news is that there is an opt-out option that can protect you from having your information sold by the Consumer Credit Reporting Companies to trigger lead buyers:
- Opt-Out Of Phone Calls and Texts
Visit www.optoutprescreen.com to register yourself for the Electronic Opt-Out for 5 years. You can also register yourself by calling 1-888-5-OPT-OUT (888-567-8688). We recommend that you visit www.optoutprescreen.com or call 1-888-5-OPT-OUT at least five days before submitting your mortgage application.
Visit www.donotcall.gov and register up to three phone numbers. Be sure to click on the link emailed to you from register@donotcall.gov within 72 hours to confirm your registration.
This doesn't mean that you won't receive any solicitations, but it will limit the amount of calls and mail you receive. In the future, if you decide that you would like to opt-in to be included in trigger lead calls and texts you can do so.
At NebraskaLand Bank, our experienced mortgage team is here to provide you with efficient, professional, and personal service to help make buying a house a worry-free experience. We'll be with you every step of the way, from start to finish. If you have any questions about trigger leads or mortgages, please reach out to one of our Mortgage Loan Experts today!
Discover the benefits of a home loan with NebraskaLand Bank.