Unwanted Mortgage Solicitations: How to Stop Trigger Leads

couple signing up to stop unwanted emails after applying for a mortgage

If you’ve recently submitted a mortgage application, you may have noticed you’ve begun receiving an influx of phone calls and emails from companies you didn’t contact.

Unfortunately, lenders, credit card companies, and insurance companies purchase your information from third parties and you become what is known as a “trigger lead”. If you’ve already selected your mortgage lender, and don’t want to be harassed by salespeople making competing offers, keep reading to learn what steps you can take to protect yourself.

What is a Trigger Lead?

When you complete a mortgage application, the lender pulls your credit report which automatically “triggers” a lead to other companies. The lead informs them you are actively looking to obtain financing. These companies can then purchase inquiry data from one of the major credit bureaus and use that information to contact you and try to win your business.

While this practice may seem like a good idea because it allows you to weigh options and potentially get a better financing deal, it’s important to do your due diligence in order to avoid engaging with unreputable lenders.

When choosing a lender to finance your mortgage, we strongly recommend referrals from trusted friends or family members, or reading online reviews of local mortgage bankers. While cost is certainly one of the most important factors, keep in mind this is not always determined by the lowest interest rate. You need a reliable partner who will keep your interests in mind and fight to secure your dream home, while keeping you informed each step of the way.

How Can I Protect Myself From Unwanted Solicitations?

While some people think trigger leads are unethical, almost everyone can agree they can be annoying. However intrusive these calls may seem, they are completely legal. While there isn’t a sure way to stop trigger leads, taking a proactive approach and opting out before you begin the origination process will lessen the likelihood you receive unwelcomed communication.
  • Visit OptOutPreScreen.com and sign up to stop the credit bureaus from selling your information as a trigger lead. The process generally takes five days to complete and will apply only to future lead requests, therefore you may still receive some solicitations.
  • To eliminate unwanted phone calls, register your phone number(s) on the Do Not Call Registry. We recommend starting this process at least one month before applying for a loan because it can take a few weeks to become effective.

It’s important to understand that these solicitors do not have access to Personally Identifiable Information (PII). The only information they receive from the credit bureaus is that there has been a recent credit inquiry related to a mortgage request allowing them to compete for your business.

At SouthState we are committed to the principles of customer privacy and do not sell customer information to third parties. We understand that when you apply for a loan, we ask you to provide us with private financial and personal information. We honor the trust placed in us by maintaining the confidentiality and accuracy of that information. One of our mortgage bankers would love the opportunity to answer questions you have about this topic or the home lending process in general.

Click here to view SouthState’s full Consumer Privacy Notice.

About the Author, Shane Horan: Shane Horan is a Senior Vice President and Director of Mortgage Strategic Initiatives for SouthState’s Mortgage Division. He has 11 years of Mortgage Lending experience, specializing in technology and operations. Shane is a graduate of the University of Georgia and the Terry College of Business.

  • This content is general in nature and provided for informational use only. Content may be used in connection with the advertising and marketing of products and services offered by SouthState Bank, N.A. and its subsidiaries and affiliates. This is not to be considered legal, tax, accounting, financial or investment advice. You should seek individualized advice from personal financial, legal, tax and/or other professionals, as appropriate depending on the specific facts of your situation. We do not make any warranties as to the completeness or accuracy of this information and have no liability for your use of this information.

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