Posted on: 15th Sep, 2007 09:30 pm
What do you mortgage professionals think about trigger leads? I don't know of any other company or industry that is allowed to break privacy laws like this. The credit bureaus sell your very personal info not only without your consent but without you even knowing it has happened.
Hi Livinginnky,
Though I am not a mortgage professional, yet I feel that credit bureaus should not be allowed of the trigger leads and must be prevented from doing hard inquiries into a person's credit report. This sort of practices are not good and should be stopped in no time.
Though I am not a mortgage professional, yet I feel that credit bureaus should not be allowed of the trigger leads and must be prevented from doing hard inquiries into a person's credit report. This sort of practices are not good and should be stopped in no time.
It is an insidious practice that the credit bureaus are doing. Our credit is a personal matter, but surprisingly the credit bureaus are selling it behind our backs and without our consent.
We cannot expect the credit bureaus to pass our private credit information like this. They should be prohibited from this sort of activities.
We cannot expect the credit bureaus to pass our private credit information like this. They should be prohibited from this sort of activities.
To me its a type of mortgage fraud. And we should stand against it.
Government has already started thinking on it. In the state Minnesota, the governor restricts trigger leads. a good step :)
Government has already started thinking on it. In the state Minnesota, the governor restricts trigger leads. a good step :)
Your personal info is not sold. just your name and the fact that you applied for a mortgage. There are criteria that the leads can be filtered by, but the details are not passed on.
still its bad cause if im in the midle of getting a deal done i dont want someone calling my client and telling him stories about getting him on a new 2% program that just came out.
Not only that but if I apply for a mortgage, that is my business period. I did not ask to be sold to every company that is willing to pay to know I am looking. If I was to opt in to some sort of system that is fine... but like all other industries... credit bureaus should not be allowed to sell your info without your consent... You don't have a choice whether you have a credit bureau (except the obvious, but living as a hermit in the mountains doesn't appeal to me), you have a choice when it comes to most other industries whether you agree with their privacy policies and whether you want to do business with them... not true with credit bureaus.
