Trigger Leads - Don't Fall Victim to Them!

There is a fairly new lead generation program in the mortgage industry that has created a large amount of controversy. They’re called trigger leads and the strategy used to obtain these leads has mortgage brokers and lenders at odds over the ethical dilemmas they cause. Many consumers are shocked when they find out who is selling their personal information to the brokers and lenders who choose to purchase these leads. Read on to find out how to avoid becoming a victim of these solicitations.

What are trigger leads?

The process begins when you make a rate inquiry, submit an application, or request a pre-approval letter with a mortgage broker or lender. In order to fulfill your request and provide as accurate an estimate as possible, the broker or lender will request a copy of your credit report from any or all of the three major credit bureaus (Transunion, Experian, Equifax). This request sets off a “trigger” to the credit bureaus that you are pursuing some sort of mortgage financing. All mortgage companies are required to state exactly why they are using credit reports (ex: mortgage loan approvals) when they register with the credit bureaus. This is how the bureaus know that you are in the market for some sort of mortgage. The next part of this story is what has many industry professionals up in arms. The credit bureaus are permitted by law to sell certain information pertaining to your application to other “hungry” mortgage companies. This information may include your name, address, FICO score, home value, mortgage amount, mortgage date, and amount of revolving debt you carry. The information is typically sold within 24 hours of credit request and may cost anywhere from $.40 to $6 per household. It is important to clarify that the mortgage broker or lender that you are currently working with is not the party that is sharing your information. Once your credit report has been requested, it is out of their hands. The three major credit bureaus are responsible for sharing your information with unwanted solicitors.

What legal issues are present?

As of the writing of this article, trigger leads are permitted by the FCRA (Fair Credit Reporting Act). The FCRA prohibits your social security number and date of birth from being released; only public information is permitted. Many mortgage brokers and lenders are adamantly opposed to triggers as they feel these the leads cause a consumer to be bombarded with unwanted solicitations for credit. Those who purchase these trigger leads are trying to solicit a client who in most cases does not wish to talk to them. As a consumer it is important to pay attention to the many scams out there involving trigger leads. Beware of mortgage companies calling you claiming that they are your actual lender in order to obtain social security numbers and other private information when in fact they are not your lender and have simply purchased a trigger lead.

What can you do to avoid falling victim to trigger leads?

Education is the key, many loan officers will discuss with their client at application how to avoid becoming a trigger lead. However, oftentimes it is too late. The credit bureaus need some time to process your request. You will want to plan on removing your name at least 30 days prior to making application with a lender. So, if you believe that you’ll be applying for a mortgage in the next 30-60 days, be sure to use one of the following methods to remove your name and personal information from eligibility of these leads.


Currently, there are three ways to remove your name:

By mail – you can visit www.optoutprescreen.com, print the application and mail it to the address listed on the form. This method will remove your name permanently from trigger leads.

On the web – visit www.optoutprescreen.com to register your information. This method will be active for 5 years. After 5 years, you will need to re-register or you may begin receiving unwanted solicitations again.

By phone – Call (888) 5-OPTOUT (888-567-8688) to register your information. This method will keep you off the list for 5 years. As with the online option, you will need to re-register after 5 years or you may begin receiving unwanted solicitations again.

All three methods will ask for your name and social security number. You may also want to consider other ways to put an end to trigger leads. Let your voice be heard! Call the consumer protection agencies and The Federal Trade Commission to voice your opinions and help put an end to this unethical practice.

Visit www.noblelenders.com to work with a mortgage broker that does not support the unethical practice of trigger leads.