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Home Loan Data Privacy
Wayne Bank stands by you when it comes to your privacy. We don’t sell your information to a third party.
If you have recently applied for a mortgage, you may be experiencing an inundation of unwanted sales calls and emails from solicitors. These attempts are referred to as “Trigger Leads”.
After you submit a mortgage application, your credit report is pulled from major credit bureaus. Once this step happens, it “triggers” a lead to other companies that you are in the market for financing and may potentially be ready to make a large purchase. Unfortunately, these companies can purchase your information from these credit bureaus. If you meet certain criteria, you may be on that list.
According to the Fair Credit Reporting Act, this is legal. This may sometimes be viewed as a benefit to the consumer, because it allows you to compare rates and weigh your options. However, it’s important to do your due diligence. Unreputable companies may also purchase these leads and trick borrowers with illegitimate and unrealistic offers. Furthermore, it can expose you to potential identify theft.
If you have been or would like to prevent being on a “trigger lead” list, you have options! By opting out before you begin your origination process with us, you will lessen the likelihood of receiving unwanted solicitation.
To assure your name doesn’t end up on a future lead list, visit OptOutPreScreen.com to sign up and Opt-Out. This will stop the credit bureaus from selling your information. The process takes about five days to complete, and you can choose to Opt-Out from a range of five years to permanently.
To stop unwanted phone calls, register your phone number on the Do Not Call Registry. It’s best to wait about a month for this to take effect, before you apply for your loan.
Your confidentiality and privacy are our top priorities. We value your trust and appreciate your loyalty and business. If you have any further questions about “trigger leads” or opting-out, please contact one of our mortgage originators and they will be happy to help you.
