Getting pesky spam calls? Here’s how to avoid EXCESSIVE solicitations during the mortgage application process.
Did you apply for a mortgage and now are getting blown up by solicitations from other lenders? It’s no secret that when it comes to marketing tactics, some companies have no compunction about being aggressive.
Presently, the Fair Credit Reporting Act of 1970 allows for “prescreened” offers of credit and insurance to be provided to consumers. What this means for you is that when your credit is pulled for a mortgage pre-approval, a long line of other lenders are eagerly awaiting your information to provide you with a “prescreened” offer. And they will use any contact tactic – text messages, phone calls, emails, and even direct mail – to provide these prescreened offers, promising a “bigger, better, cheaper deal,” all while knowing nothing about your present financial circumstances or needs.
While we understand that other companies are simply trying to drum up more business, these calls, emails, and texts often become an unnecessary annoyance while searching for a new home. You can help protect yourself from unwanted solicitations like these by using the below Opt-Out links.
1. Use this single Opt-Out link: Click Here
Please keep in mind that the single link opt-out option can take up to a week to go into effect. If you use this link, avoid having your credit pulled for a mortgage application until it has gone into effect.
2. Below is a directory of the major credit reporting agencies (with their direct opt-out links) that provide information to creditors when credit is pulled for a mortgage application. Each has a different time frame to enact the do-not-contact request; however, it is our understanding that these direct links could have the potential to work faster than the single opt-out link.
Call 1-402-458-5247 or email firstname.lastname@example.org with your complete name (including any name variations), mailing address, complete telephone number (including area code), and email address. Please specify in the email that you wish to be removed from mailing lists, telemarketing lists, and online targeted advertising. To opt out of prescreened credit or insurance offers, please call 1-888-567-8688.
Email Opt-Out: send an email to email@example.com from the email address you wish to unsubscribe.
Equifax provides an online form to fill out, but be careful as the form is used both to opt in and opt out. Be careful to ensure that you are selecting the correct action for your information. If you are worried about accidentally opting in, you can call Equifax directly at 1-866-295-6801. While this page is directed explicitly at CCPA and California residents, residents of any US state have the right and ability to submit opt-out requests.
- Trans-Union: https://service.transunion.com/dss/ccpa_optout.page
While the information on this webpage describes opting out as a California resident, there is a drop box where you can select your state (CO is the BEST!) and continue to opt out. Trans-Union also provides a direct phone number you can call to request your information not be sold or used for marketing purposes: 866-310-8783.
3. Lastly, you can opt out with the nationwide credit bureaus at 1-888-567-8688. Or go directly through the Federal Trade Commission’s National Do Not Call Registry by visiting https://www.donotcall.gov/ or calling 1-888-382-1222.
Whoa! That was a lot of information to download. As your trusted lending partner, we are here not just to guide you through the mortgage process but also to help protect your information by providing education on these unfortunate lending tactics that we are witnessing in our industry. If you have any questions, please feel free to reach out to us directly at 720.730.6383, Option 2.