What’s Worse Than Mortgage Spam? Selling Private Data to Random Lenders

by Alex Stenback on April 12, 2006

Anyone who likes unsolicited calls from mortgage lenders, raise your hands.

Don’t see any hands.  We’re not surprised.

But what might surprise you is that anytime you make an inquiry about a mortgage, and a credit report is pulled, information in that report may immediately be sold by the credit bureaus to other lenders, who then use it to solicit you.  Isn’t that fun?  Call your mortgage guy/gal for information and then every shi%ball lender in the country is pestering you. Woot!

We think this practice is an offensive invasion of privacy, and should be stopped (there oughta be a law, etc.) How do we stop this?  By opting out.  And if enough of us opt out, the credit bureaus will have no product to sell, and the practice stops.  Here’s how to opt-out:

1. Go to this website
2. OR Call this number: 888-567-8688

Seriously, forward a link to this post to everyone you know.

Hat tip to the following for doing the heavy lifting on this topic:
· How to Stop Credit Bureaus from Selling your Name [pacesetter]
· Credit Companies Are Selling Your Mortgage Application [mercurynews]

{ 3 comments… read them below or add one }

David Porter April 12, 2006 at 12:42 pm

Thanks for helping to get the word out and the link.

Paul April 12, 2006 at 4:15 pm

Wow, I had no idea… thanks for the tip Alex

Harold Brandt April 18, 2006 at 12:51 pm

Great advice about opt-out. Very easy to understand and use. Thanks.

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