Mortgage borrowers are facing a new challenge in the form of “trigger leads” – an aggressive marketing tactic used by unaffiliated third-party vendors. After pulling their credit score, borrowers are bombarded with hundreds, sometimes thousands, of emails, calls, and texts, causing additional stress and confusion in an already complex process. These trigger leads not only overwhelm borrowers but also pose significant risks of identity theft, fraud, and predatory lending, ultimately putting their dream of homeownership in jeopardy.
Key points:
– Borrowers are inundated with emails, calls, and texts from third-party vendors after pulling their credit score
– Trigger leads can lead to identity theft, fraud, and predatory lending
– The aggressive marketing tactics can harm borrowers who are already navigating the financial requirements of securing a mortgage
You can read this full article at: https://www.housingwire.com/articles/its-time-we-put-the-guardrails-up-and-protect-consumers-from-abusive-trigger-leads/(subscription required)
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