Stop trigger leads: How to end unwanted mortgage calls

Applying for a mortgage often triggers a wave of unwanted sales calls from competing lenders. This isn't a data breach from your lender; it's a legal practice where credit bureaus sell your contact information as "trigger leads." Your privacy and peace of mind are our top priorities, and we want to equip you with the right information.

Read on to understand how trigger leads work and how you can put an end to the solicitations today.

What is a trigger lead?

A mortgage trigger lead is a sales lead containing a consumer's contact information that is generated and sold by credit bureaus to competing lenders immediately after a borrower applies for a home loan.

The credit check required for your loan application acts as a "trigger." It signals to Equifax, Experian, and TransUnion that you are in the process of shopping for a home loan.

They immediately package your name and contact details into a sales lead. Then, they sell that fresh lead to other mortgage companies in just minutes. This system is why the aggressive calls and emails start almost immediately after you apply.

Did my mortgage lender sell my information?

No, NewCastle Home Loans did not sell your information, and we never will. The credit bureaus,  Experian, TransUnion, and Equifax, sell your data through a practice that, unfortunately, is legal under federal law.

What information is included in a trigger lead? Can they see my credit score or full credit report?

No, companies that purchase trigger leads do not have access to your full credit report or your exact credit score. They only receive the basic data needed to reach out to you, such as your name, address, and phone number.

Are trigger leads legal?

Yes, trigger leads are legal under the Fair Credit Reporting Act (FCRA).  Federal law permits the credit bureaus, Experian, TransUnion, and Equifax, to sell your data unless you opt out.

How can I stop these calls and emails immediately?

Immediately stop most trigger lead offers by opting out.  Opting out removes your name from future lead sales lists with all three credit bureaus.  You have two primary ways to do this:

• Online: Visit OptOutPrescreen.com
• By Phone: Call the toll-free number 1-888-5-OPT-OUT (1-888-567-8688)

I just opted out online. Why am I still getting calls?

Calls and emails might continue briefly because some lenders bought your details before you opted out. Processing your opt-out request can also take up to five days.  However, opting out will prevent your information from being sold on any new trigger lead lists going forward. The volume of calls and emails is expected to decrease significantly within a week.

Besides opting out, is there anything else I can do to reduce these solicitations?

Yes. You should also register your phone number with the National Do Not Call Registry for free.

• Online: Visit DoNotCall.gov

Also, use spam filters for emails and block persistent numbers on your phone.

Will opting out of these offers affect my current mortgage application?

No, opting out won't impact your current mortgage application with NewCastle Home Loans. It simply prevents new trigger lead offers from being generated. Your existing application remains unaffected.

Are the loan offers I'm receiving from these other companies legitimate?

You should be extremely cautious when dealing with lenders that purchase trigger leads.  They use aggressive sales tactics, which is a sign of a less scrupulous mortgage broker.  Some may include misleading terms or unrealistic promises.  Stick with the trusted lender you initially chose, NewCastle Home Loans.  We recommend that you always research the lender, read reviews, and compare offers carefully.