Hi, this is Tom Heath with the Mortgage Guidance Group at Nova Home Loans and this is our weekly installment of mortgage and real estate related matters. Today’s topic is a lead that some mortgage lenders get called a trigger lead. This is a very expensive but high-performing lead for some lenders. The way it works, quite simply, is when a high qualifying borrower applies for a mortgage, that information, their name and contact information, is instantly sent to whoever is paying for that trigger lead.
So they may apply with us in a few minutes later, they may get a phone call, and a day or two later they might get mail about a mortgage offer. So you might want to advise your clients that in this market, because things are so competitive, lenders are looking for ways to get get more and more business, so trigger lead to becoming more popular. One thing your client can do, if they don’t want want their information to be sold by the credit bureaus, is to go to a website optoutprescreen.com. Fill in some information and the consumer then is preventing the credit bureau from sending the information. The lender isn’t selling it the credit bureau is.
If you have any questions on this, or you want information about opting out, or how to help your clients opt out, just reach out to us. Send us an email. You can always find more information on our website, mggrouptucson.com. And as always, if there’s a topic you’d like us to cover, just let us know!
