Fair Credit Trigger Marketing

If you are going to apply for a mortgage, whether it be through a bank, mortgage broker, or online please beware that the credit reporting agencies are now selling all your personal information within 5 hours of recieving your data.  SS#s, Drivers License #s, credit history, addresses, phone numbers, existing mortgages amounts, etc.  Most of the purchasers of your data are other mortgage companies or banks who want to circumvent your business by interfering with the company that you selected.  Some of these companies can and will use deceptive methods to trick you into using their loan services instead of the company you selected--many times the fees are much higher.

One area of concern is who the credit reporting companies are selling this data too--as of today no one is sure who is purchasing this private info.

The following link is a way to opt out of this program but beware it takes 6 to 8 days for this to be processed.  So if you are in the market of buying a new home make sure you fill out the opt out program first.

https://www.optoutprescreen.com/?rf=t

MDS

Hmmm...that is interesting.  I wonder if this is why I'm being inundated with phone calls now...although I did not authorise a credit report to be pulled.

My husband was making enquiries about mortgages for us in our present financial circumstances...he was the only person who spoke with several agancies, and yet I find that a credit report has been pulled on me...I thought Companies required MY permission to pull reports!  

As far as my husband is aware, he did not specifically authoirise a credit report on me.   Now my phone rings incessantly from some company in Ca...

Should the Company have obtained MY approval to pull a credit report?

CT33

You might want to report this situation to the FTC; at least make a complaint.

CW

Are you on the Do Not Call List?  If you are then they would be violating the law and could be sanctioned for major damages.  If not, then you might want to sign up for the Do Not Call List.

MDS

We've been bombarded by mortgage insurance solicitors. I'd guess they are one group of customers for this information. Thanks BOA.

cellgrel

Thank Equifax, Ameriquest, Experion, and Innovus (the credit reporting companies for selling your information).  You friendly FTC allows them to sell your personal info.

MDS

Thanks for the heads up.

Would it be OK for me to copy/paste this post else where on the net?

I belong to several forums that would benefit from this info.

craneman54