USDA Home Loans Blog

Why does it seem like you receive more calls from mortgage companies after you have already applied for a loan and have chosen your mortgage company to do business with?  You are getting more calls!  When your credit is pulled by the mortgage company you chose to do business with, the three major credit repositories sell your information to other mortgage companies.  You have then become a trigger lead.  The mortgage companies who bought your information will call you, mail solicitations to you, and in some cases harass you to get your mortgage through them.  This can be damaging to borrowers if the other companies are desperate and use the old "bait & switch" tricks to get your business.  They may offer a better deal, but when it comes down to the closing, it may not be what you thought.  Also, some companies are being downright deceitful and pretend to be an "associate" of your mortgage company, just to get your information.  Make sure if you are contacted by someone other than your mortgage broker, you don't give them any information until you speak directly with your mortgage broker and verify that they are working with that person on your loan.

You can avoid the hassles of these callers ahead of time, by going to www.optoutprescreen.com and filling in the information.  It usually takes 5 days to process and can take up to 60 days for you to no longer receive solicitations.  You can also do this by telephone, at 888-567-8688.

Remember, check with your mortgage broker before giving anyone else your personal information!