Today we're talking about trigger leads. We're going to cover what they are and how to avoid getting annoying phone calls after applying for a mortgage.
Tired of Unwanted Mortgage Calls?
Find out how to stop mortgage trigger leads from flooding your phone with sales calls. Our experts can help protect your privacy and guide you through a stress-free home loan process.
What's a trigger lead?
If you've ever applied for a mortgage you've likely received some of these calls. A few days after your credit is pulled you start getting phone calls from people you haven't previously been talking with. This is because of a trigger lead.
A trigger lead is a good, old-fashioned marketing trick. What happens is companies who are interested in knowing when you've applied for a mortgage can buy your contact info. And once they have your info, they'll give you a call and try to swoop in and close a deal. These leads are sold by the credit bureaus to companies that are interested in knowing when you've applied for a mortgage.
The unfortunate thing about these, besides being annoying, is that they can also be scummy, especially when those calling give the impression that they're associate with a company you're already working with (such as the Mortgage Brothers!).
So, what're some solutions?
How do we get these calls to stop?
The trick is to sign up with the Do Not Call registry. You can do that at www.donotcall.gov. While it takes about 30 days or so to go into effect, once it does, you'll get less and less of these unwanted calls.
Now, unfortunately, when you put a stop on calls you can still get mailers. But, thankfully there's a solution for those too. You can go to www.dmachoice.org to get more control over what is sent to you by mail and what isn't.
No matter what you decide to do, we want you to know what protections you have and what steps you can take to minimize any potential annoyances in your life, especially if it has anything to do with getting a mortgage or loan.
If you have any questions about this or if you have any questions you'd like us to answer on our podcast, you can submit your questions using our contact form or give us a call at (602) 535-2171. Be sure to ask us for a free quote on your next mortgage. We'll personally work with you and help you through the whole process.
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Be sure to ask us for a free quote on your next mortgage. We'll personally work with you and help you through the whole process.
Mortgage Brothers LLC does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. Mortgage Brothers NMLS 1007154, NMLS #210917 and 1618695. Equal Housing Opportunity.
If you're interested in further mortgage topics, explore our article on payment timing and learn how to calculate PMI costs. You can also dive into the details of amortization, get the lowdown on APR basics, and review closing costs along with mortgage payoff issues.
Transcript of the Mortgage Brothers Podcast
What Are Mortgage Trigger Leads?
Eddie Knoell: I'm Eddie Knoell.
Tom Knoell: And I'm Tom Knoell. Welcome, everyone! This is the Mortgage Brothers Podcast Show.
Eddie: Today, we're discussing trigger leads—why you suddenly get calls from lenders after applying for a mortgage.
Tom: It happens often. You apply for a mortgage, and within a day or two, multiple lenders—whom you've never spoken to—start calling.
Eddie: No, they're not psychic! These are trigger leads, which come from credit bureaus selling your information after your credit is pulled for a mortgage application.
How Trigger Leads Work
Tom: The credit bureaus sell trigger leads to lenders and marketing companies. These businesses then call borrowers, trying to convince them to switch lenders.
Eddie: Just to be clear: We do not buy trigger leads. We refuse to participate in this practice.
Tom: Some companies build entire call centers around trigger leads, using aggressive tactics to lure borrowers away from their original lender.
The Dangers of Mortgage Trigger Leads
Eddie: While not illegal, these practices can be deceptive. Some companies give borrowers the impression that they are part of their mortgage process when they are not.
Tom: I had a borrower tell me, “Hey, Eddie, is this guy real? He said he was working with your company.”
Eddie: That's outright fraud. One company even asked my borrower to send them personal documents, pretending to be part of our process!
How to Protect Yourself from Trigger Leads
Tom: If you apply for a mortgage, be cautious of unknown numbers. If someone calls claiming to be part of your loan process, verify their identity.
Eddie: The best way to stop these calls is to register your phone number on the National Do Not Call Registry. Website: www.donotcall.gov
Tom: It takes about 30 days for registration to take effect, so plan ahead if you're applying for a mortgage soon.
Stopping Unwanted Mail Solicitations
Eddie: If you're also getting unwanted mortgage offers by mail, you can opt out through the Direct Mail Association (DMA).
Tom: It costs $1 to register, and it can take up to three months to take effect. Just Google Direct Mail Association opt-out to find the registration link.
Eddie: Many marketing letters have fine print mentioning your right to opt out, but it's buried in pages of credit offers. Taking control of this upfront can reduce unwanted solicitations.
Final Thoughts
Tom: You shouldn't be afraid to have your credit pulled when applying for a mortgage. However, you should be aware of these marketing tactics so you can protect your privacy.
Eddie: If you've found this information helpful, subscribe to our podcast and follow us for more mortgage insights.
Contact Information
Email: Contact Form
NMLS: 1007154
Disclaimer: This content is for informational purposes only. Please consult legal or financial professionals before making any decisions.