Opt-Out Prescreen

NAMB Position

Links:
www.optoutprescreen.com
www.donotcall.gov
www.namb.org

 

 

Why does this happen?

Many people don’t know this but once your credit report has been pulled by a mortgage company, it sets off a trigger that automatically puts your name on a list that credit reporting agencies can sell to other mortgage companies.

Telemarketers from those companies contact you because they know you are in the market for a new mortgage. They typically offer too-good-to-be-true deals in hopes of getting you to switch to their mortgage company. In some cases they actually lie claiming to have your loan application and say they are just following up to get a little more information.

We at Mortgage Advisory Group feel this is a violation of your privacy and do not purchase lists from these agencies. Unfortunately, there is nothing we can doe to stop the credit reporting agencies from selling trigger leads, so we tell our clients what they can do to stop the calls.

What you can do to reduce unwanted solicitations

1. Call 1-888-5-OPTOUT (1-888-567-8688) or visit www.optoutprescreen.com. When you call this toll-free number or visit the web site, you will be asked to provide certain personal information including your home telephone number, name, social security number and date of birth. The information you provide is confidential, and will be used only to process your request to opt-out. Don’t enter any personal information until you have checked for indicators that the site is secure – a lock icon on your browser or a web address that begins http's.
   
   Opting out of prescreened offers does not affect your ability to apply for credit or to get it. Your opt out request will be processed within five days, but it may take up to 60 days before the prescreened offers stop coming. If you have a joint mortgage, both parties need to opt our to stop the prescreened offers.
   
   
2. Put your phone number on the federal government’s National; Do Not Call Registry to reduce the telemarketing calls you get at home. To register your phone number or to get information about the registry, visit www.donotcall.gov or call 1-888-382-1222 from the phone number you want to register.
   
   You will get fewer telemarketing calls within 31 days of registering your number. Your number stays on the registry for five years, until it’s disconnected , or until you take it off the registry.

The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the market place and to provide information to help consumers spot, stop and avoid them. To file a complaint or to get free information on consumer issues, visit www.ftc,gov or call toll-free 1-877-FTC-HELP (1-877-382-4357) TTY: 1-866-653-4261. The FTC enters internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.