Mortgage Credit Report Trigger Leads - Some Call It Harassment

The mortgage industry has long been plagued by the controversial practice of trigger leads, in which credit reporting agencies sell the information of borrowers who have applied for a mortgage loan to other lenders. This leads to a barrage of unwanted solicitation in the form of calls, texts, emails, and more for the consumers. It is a practice that has caused frustration and annoyance for both consumers and industry participants.


However, there is finally some good news on the horizon. A bill has been introduced in both the House of Representatives and the U.S. Senate to curtail trigger leads and put an end to this practice. This is a welcome development that will hopefully bring relief to many buyers who have been inundated with unwarranted and unfounded offers from other mortgage lenders.


In addition to the legislative efforts, consumers also have the option to put themselves on an opt-out list to avoid receiving these unsolicited offers. While this is a step in the right direction, it is important to note that it can take up to a week for the opt-out to go into effect. In a fast-paced market where time is of the essence, many consumers may not have the luxury of waiting for the opt-out to take effect.

The introduction of the bill and the option to opt-out are positive steps towards addressing the issue of trigger leads in the mortgage industry. By taking proactive measures, consumers can protect themselves from unwanted solicitations and focus on working with trusted professionals to secure their mortgage. It is a small but significant victory in the ongoing effort to improve the mortgage lending process for everyone involved.

As a solution, I recommend that anyone considering getting a mortgage in the near future reach out to me. I can provide them with the necessary information to get on a five-year minimum opt-out list and avoid being bombarded with unwanted solicitations. This will ensure that they can proceed with the mortgage process without unnecessary interruptions and distractions.

 Contact me to help protect your privacy and sanity!

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.