Mortgage Minute

If you’ve been in a situation where you just applied for a loan, had your credit pulled, and then start getting phone calls from various creditors; you are not alone. This is called unsolicited credit or “trigger

leads.” Trigger leads are created by credit bureaus. Once you apply for a loan, your information can be

sold by the credit bureaus to other lenders. Trigger leads can be frustrating. You may experience a large number of phone calls, texts, e-mails, etc. from various creditors. These trigger leads are primarily geared towards giving you different options for financing. If you are interested in these financing options, it is important to ask qualifying questions to understand the terms of what they are offering.

However, if you do not want to receive these trigger leads from creditors, the best way to stop receiving them is to opt-out by using the links listed below.

For unwanted mail solicitations, visit http://www.optoutprescreen.com or call 888-567-8688. You will need to verify your personal information and will be given three options: opt-in, electronic opt-out for 5 years, or permanent opt-out by mail. The website will give you more information regarding trigger leads as well.

For unwanted phone solicitations, go to http://www.donotcall.gov or call 888-382-1222. Include all phone numbers currently in use (home and cell phone). If you go to the website, you can find out if your phone is currently registered or not.

Regardless of the type of solicitation you receive, it’s important to protect your identity and take the necessary precautions so that your personal information is not compromised. Please reach out to your lender if you have any questions.

Michael Scharfe has been a lender at First Security Bank for 10 years. Reach him at [email protected].