Why do I get spam calls after I apply for a mortgage?

We understand that this can be frustrating for you as a consumer. It's natural to assume that the bank sold your information to a third-party vendor. However, it's important to know that the bank did not sell your information.

The credit bureaus sold your information as a trigger lead.

What is a trigger lead?

Trigger leads are consumer reports created and sold by the credit bureaus and include data on individuals who have recently applied for a mortgage or other financial service involving a credit inquiry. These reports are created and sold without your knowledge or consent.

These leads can be purchased with specific parameters, such as certain age groups, credit scores, and zip codes, to name a few. The Federal Trade Commission supports the sale of these leads to provide consumers with more options. However, ending up on a trigger list can annoy most, who receive many calls, emails, and physical mail from lenders.

Are trigger leads legal?

Although they might be viewed as unethical, trigger leads are legal. While there are benefits, as we talk about below, we encourage you to practice caution with these unsolicited offers. Fraud and identity theft are at an all-time high.

Know what to look for and how to protect yourself from phishing scams.

Are there benefits to trigger leads?

Consumer Credit Reporting Companies encourage you to make an informed decision about receiving firm (preapproved / prescreened) offers of credit or insurance.

Receiving additional firm offers allows you as the consumer to weigh your options. This benefits you by:

Presenting you with offers you didn’t know were available.
More options increase your buying power.
Find an option that fits your unique situation better.
For more information on the benefits, click here. See pages 32-40, titled “Benefits of Receiving written offers of Credit or Insurance”.

Can you opt out of trigger leads?

Yes, you can. Opting out to prevent trigger leads is up to you as the consumer. It is easy to opt-out. Below are the following ways of preventing trigger leads from happening to you.

Add your number to the Do Not Call List.

You can add your name either by phone or on the web.

www.donotcall.gov
1.888.382.1222

Opt Out

Opt Out Services LLC is the official Consumer Credit Reporting Industry website to accept and process requests from consumers to Opt-In or Opt-Out of firm offers of credit or insurance.