If so, they are on a targeted list of people that your good old credit bureau is using to sell that credit report to another hungry loan officer. I have heard countless complaints individuals where this is happening as soon as you run credit. Loan officers will call your client and tell them they are getting a bad deal, and try to steer them to use them to do their loan transaction. Direct mail will start to flood you house, and the phone calls will keep coming within minutes after the credit is ran.

 

Does anyone have any experience with this? I heard they are trying to ban this kind of violation of privacy, however have no solid evidence of it yet 

 

4 Comments on Are your clients getting bombarded with phone calls when you run their credit report

Brian,

I Have not heard about those calls, but thanks for letting us this, keep the good blog ! :)

Ray Saenz

08/28/2007 11:42 PM by Aurora Colorado Real Estate Ray Saenz, Colorado Realtor (United Property Brokers, INC)

yeah, it is quite sad and irritating. I've had it happen to 2 clients just recently. Both of the Loan Officers told my clients that the lenders I was going through were out of business... They always promised stuff they couldn't deliver. One client let them do the app and run his credit and he came back and said "Sorry, I can't do what I thought we could do" so naturally it just made me look better since I can. But it IS very irritating.

08/28/2007 11:54 PM by Rick Grand (Oregon Real Estate Properties)

Well there is the do not call list but that has so many exceptions it really doesn't matter...I think the exceptions are politicians, charity, and the San Francisco Chronicle because they can't take no for an answer...good luck...

08/29/2007 12:03 AM by Rondel Williams, Real Estate Web Development, Blogs, IDX, Personal Websit (Extra Mile Solutions)

Brian - have them contact the consumer credit reporting industry at (888) 567-8688 or online at http://www.optoutprescreen.com/.

Either of these methods allow your borrowers from being contacted after the credit report is pulled.  Best to do this a day or so before you pull it for them!

09/10/2007 03:16 PM by Matthew Rosov, Certified Mortgage Planning Specialist (Envision Lending Group)

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Mortgage Company: MegaStar Financial
Brian Quigley
Denver, CO
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MegaStar Financial

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