One of the first steps in a pre-qualification or refinance involves pulling a credit report, which will trigger telemarketing calls. The National Do Not Call (DNC) Registry gives you a choice about receiving these calls. We recommend that our clients add their numbers to the National Do Not Call registry and register with credit agencies to opt out of sharing their personal info.
Why opt out, and why before a credit pull?
Registering with the DNC is easy and reduces the number of unsolicited phone calls. Doing this before a credit pull will help avoid even more calls from telemarketers that purchase “trigger” leads. Opting out with credit agencies will reduce the amount of junk mail you receive.
What are “trigger” leads?
When a consumer’s credit is pulled, reports come from the 3 major credit bureaus (Experian, Equifax, and Transunion). These bureaus have a lot of consumer information, and they make money selling it. When a mortgage credit report is pulled, within a day the bureaus will sell the contact info to other lenders who want these possible leads.
Any companies who purchase trigger leads are required to run the list against the National Do Not Call Registry. Telemarketers must remove all contacts who are registered on the DNC.
How to register your number with the DNC
Go to DoNotCall.gov or call 1-888-382-1222 (TTY: 1-866-290-4236) from the phone you want to register. It’s free and your registration will never expire. If you register your number at DoNotCall.gov, you’ll get an email with a link you need to click on within 72 hours to complete the registration.
Opt out directly with the credit bureaus through the official Consumer Credit Reporting Industry website: optoutprescreen.com
This allows consumers to Opt-In or Opt-Out of firm offers of credit or insurance.
Registered but still getting unwanted calls?
If you’ve already added your phone number to the DNC Registry and still receive unwanted calls, chances are the calls are from scammers. If you answer one of these calls, hang up and report the call to the FTC.
For more questions regarding mortgage credit reports or getting pre-qualified to buy a home, contact us today!
