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Thought I would key you guys on this.
Experian, Transunion and Equifax are selling off your information to Mortgage companies without your consent or knowledge. I work for a large Mortgage broker and yes we do buy this information. If you apply for a mortgage with any lending institution your information is passed on to companies such as mine so we can contact you and try to take the deal. This is also happening in other industries as well (credit cards, auto financing, etc).
If you would like this not to happen to you, then go to this website:
www.optoutprescreen.com
You will be asked to opt out for 5 years or a lifetime. I have also noticed that about 8 out of 10 times my clients "opt out" their credit scores raise in less then 5 days. 2 times out of 10 the score drops. Unfortunately I have not been able to find a pattern to find out which way it will go.
I personally, even though I do call these leads, think this is a back ended tactic that needs to be addressed. (It is part of my job so I have to call these leads to stay here)
For more info also visit http://www.la-legal.com/modules/newbb/viewtopic.php?topic_id=333&forum=9
You might be asking, why do I want to stop this if I gain business off of it. Well I also loss business off of this because either A) other company under bids me B) Because my clients think I am selling their info when I am not.
Just some info for you guys that care about privacy and credit position.
Experian, Transunion and Equifax are selling off your information to Mortgage companies without your consent or knowledge. I work for a large Mortgage broker and yes we do buy this information. If you apply for a mortgage with any lending institution your information is passed on to companies such as mine so we can contact you and try to take the deal. This is also happening in other industries as well (credit cards, auto financing, etc).
If you would like this not to happen to you, then go to this website:
www.optoutprescreen.com
You will be asked to opt out for 5 years or a lifetime. I have also noticed that about 8 out of 10 times my clients "opt out" their credit scores raise in less then 5 days. 2 times out of 10 the score drops. Unfortunately I have not been able to find a pattern to find out which way it will go.
I personally, even though I do call these leads, think this is a back ended tactic that needs to be addressed. (It is part of my job so I have to call these leads to stay here)
For more info also visit http://www.la-legal.com/modules/newbb/viewtopic.php?topic_id=333&forum=9
You might be asking, why do I want to stop this if I gain business off of it. Well I also loss business off of this because either A) other company under bids me B) Because my clients think I am selling their info when I am not.
Just some info for you guys that care about privacy and credit position.
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