Why do I apply once & get 15 calls?

Why do I apply once & get 15 calls? - This can be part of a recent problem with the credit bureaus selling their information upon an inquiry, its called a TRIGGER LEAD...If a mortgage company pulls your file, your info may go to many other brokers who have paid for that information from the bureaus...Do a Google search for more information on TRIGGER LEADS...Other reasons are that some of the places you apply will sell you application to up to 4 brokers as well as to other lead suppliers who will then resell them to up to 4 other brokers...There is a way to avoid this, its called "opting out"...Again google for additional information on how to do this...

Some loan officers are not very good at finding new customers. They don't get many referrals, often because they don't treat their customers well enough that those customers will refer their friends and family members. They don't provide enough valuable information on their websites so that visitors would know if they are knowledgeable and helpful.
Instead these loan officers pay money for your personal financial information! And the credit bureaus sell it to them!
These loan officers are not counting on referrals from you because they usually don't get them any way. So they are less concerned about treating you well than getting the sale. This leads the less ethical of the group to do such things as quote rates lower than they can get for you. They figure that when they eventually tell you that you don't qualify for the quoted rate, you will be so far along in the loan process that you won't be able to switch to another loan officer.

Find out the lead generation companies name and do your own research. Find out what their privacy policy is and if they do affiliate marketing. If the answer is no affiliate marketing and a solid privacy policy then you can feel somewhat safe you will only recieve the appropriate amount of calls.

I will be happy to do a free ananlysis of the GFE's provided by other lenders, and happy to call them with you on the phone to point out any discrepancies or fees they clearly left off when giving you the quote. A GFE is a very simple form to create and doesn't hold much weight, as it is not binding upon application. Many lenders leave out required State Taxes or Title Insurance, to appear they have lower costs, but truly do not...

There are many lead generation companies out there that promise to help you out by letting lenders compete for your business. These types of lead companies will sell your information to however many mortgage professionals will pay them for it. Sometimes your information could be sold a countless number of times and your phone will ring for months after you applied with the lead company. Many times it is better to simply apply with 1-2 separate lenders individually that to go ahead with any of these types of lead companies that promise to let lenders compete for your business.

To prevent receiving a flurry of phone calls regarding your credit report every time it is pulled, consider visiting optoutprescreen.com, the only website which allows you to prevent all three major credit bureaus from releasing your information to third parties when you apply for credit.

One of the great things you can do for a borrower is teach them about their credit.
The site optoutprescreen.com has been great for my borrowers. Not only does the site let you opt out for a specified period of time, such as 5 years, 10 years or forever. It also let's you choose to opt back in whenever you choose.
Another benefit of this site is that it sometimes will raise the borrowers credit score. It will not raise it by much, sometimes only 2 or 3 points but it usually will raise it.
So if you have a borrower on the edge of not qualifying due to credit, have him first pull his own credit so save the inquiry hit, sign up for a credit monitoring program so they can watch their changes happen on their report, and then have them opt out on this site

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Ed Bates

Be wary of lenders who place a sense of urgency and require you to make a decision-and deposit- immediately. A reputable lender wants you to make the best decision for yourself. That is how reputable lenders earn one's trust and business.

You might also be getting called by automatic dialers, once your name and phone number are added to the marketing list of everyone who purchased your lead.

Use one mortgage broker you can trust to do your shopping for you. If you apply online, make sure you hit the optout buttom to prevent numerous junk emails.

Despite advertising claims to the contrary, these lead companies do not care if you get the best mortgage deal for your financial situation. They just need another name and number to sell for $35 to as many high pressure salesmen as they can. If you want lenders to compete for your business, check with your real estate agent, your accountant, your financial planner or even your friends. Then make some calls to a few different lenders. You will do a much better job of finding lenders who will really care about your needs and desires because they want other people to continue to refer clients to them. They won't just close quick and move on to the next lead.

Available Mortgage Loan Products

Purchase Transactions including first and second trust mortgages
Refinance Transactions for Rate and Term as well as Cash-Out Refinances
Stand-Alone Second Mortgages (Home Equity Loans -HELOAN and Home Equity Lines of Credit -HELOC)
Construction Loans
Government Loans such as VA and FHA

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FDIC Equal Housing Lender.  East West Mortgage 1604 Spring Hill Rd, Second Floor, Vienna, VA 22182. Licensed by the NH Banking Department; Licensed Mortgage Banker, NJ Department of Banking & Insurance; Licensed Mortgage Broker, NYS Banking Department; Licensed by the PA Department of Banking.