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#1151443 - 03/25/09 08:13 PM credit bureau inquiry and telemarketers
complyorelse Offline
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Joined: Nov 2007
Posts: 442
U.S.
We have been notified by several residential loan applicants that within a couple of days of us pulling the credit bureua a mortgage broker implying that they work for us has contacted them. The mortgage broker tries to persuade them to authorize the order of an appraisal and proceed with processing the loan. We are a relatively small bank who does not work with mortgage brokers and we don't do direct marketing so I am at a loss as to how this mortgage broker is even capable of finding out that we have pulled a credit bureau on someone. I'm aware that our customers are being contacted, typically by mail, after a mortgage has been filed, but not from a credit bureau being pulled. Is this legal? How do these companies get this information?

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#1151446 - 03/25/09 08:17 PM Re: credit bureau inquiry and telemarketers complyorelse
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,963
TN
These companies have contracts through the credit bureau agencies. I remember researching this a couple of years ago - and it's legal. Now, pretending to be your bank is not.
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#1151454 - 03/25/09 08:24 PM Re: credit bureau inquiry and telemarketers Skittles
complyorelse Offline
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Joined: Nov 2007
Posts: 442
U.S.
Thanks. Do you know who could we report this (the implication that they work with us) to?

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#1151466 - 03/25/09 08:32 PM Re: credit bureau inquiry and telemarketers complyorelse
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,963
TN
If you know who is doing it - I'd say your attorneys.
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#1151641 - 03/26/09 12:11 PM Re: credit bureau inquiry and telemarketers Skittles
waldensouth Offline
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waldensouth
Joined: Nov 2001
Posts: 7,980
FINALLY ABOVE the gnat line
I would also report it to the credit bureau you're using. They can yank the privilege.
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#1151657 - 03/26/09 12:47 PM Re: credit bureau inquiry and telemarketers waldensouth
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,617
Galveston, TX
Call your State's AG office.
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