OptOutPrescreen

Did you know that when you have your credit pulled for a mortgage, regardless of which lender pulls your credit, the credit bureaus (Equifax, Experian, and TransUnion) sell your information to other telemarketing lenders? You will often be bombarded with many unwanted calls, texts, and emails from solicitors. There is good news, you can opt out of these solicitations for free here:

 https://www.optoutprescreen.com/ 

The online opt out will only take you about two minutes to complete and will be effective for five years. Anyone who is applying with you for a mortgage should also take this step so they can also avoid this annoyance. It does take 3-10 days for the opt out to take affect so if you need to move forward right away you unfortunately will still get solicitations. You should still complete the opt out process in case we need to pull your credit again during the loan process and to avoid the annoyance in the future. 

The solicitors who buy your information, which in the industry are called trigger leads, in many cases use unethical business practices such as quoting low rates but leaving out points or other costs, quoting rates that aren't actually available, pretending to be associated with the lender you originally applied with, being very pushy, etc. At HOMES Mortgage Lending we understand that financing a home is a large transaction and completely understand if you want to compare our offer with other lenders, however we strongly advise to shop with local lenders you are familiar with or who are recommended to you by those in your life you trust as opposed to the lenders who bought your information from a credit bureau. 

There is currently pending legislation to eliminate the practice of credit bureaus selling your information. However there is no guarantee of the timeline for that legislation to pass or if it will pass at all. For now do yourself a favor and visit https://www.optoutprescreen.com/ to opt out of these solicitations.