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Why am I getting calls for mortgage offers?

Occasionally, we hear from customers that they receive unsolicited offers from other lenders after they apply with us. Their first question is always, “Did you sell my information?” The answer is emphatically, “No, BankSouth Mortgage did not sell your information.” Unfortunately, this means a credit bureau, such as Equifax, Experian, Innovis, or Transunion, has sold their information as a lead to another lender. This is called a trigger lead.

What is a trigger lead?

After you apply for a loan, we order a copy of your credit report, which creates an inquiry that is reported to the credit bureaus. This tells the credit bureaus that you are in the market for a loan. The credit bureaus can sell this information to other companies that want to offer you their services. This practice is not against the law.

Companies set criteria for the leads they want to buy. This can include where you live and aspects of your credit profile, such as your credit score, the number of open accounts, and the type of credit accounts you have. Buying this information allows creditors to offer you pre-screened offers for credit. Insurance companies can also buy these leads to make offers to you.

How to prevent these calls?

If you prefer not to receive calls for pre-screened credit and insurance offers, you can opt out by visiting  www.optoutprescreen.com or calling 1-888-5-OPTOUT. You can also add your phone number to the National Do Not Call Registry by visiting www.donotcall.gov or calling 1-888-382-1222. Neither of these actions will take immediate effect, and they will not prevent all telemarketing calls, but they will reduce them.  For both, you will be asked for personal information to process your request. Before providing personal information, make sure you confirm the website is secure or confirm that you have called the correct number.

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