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#1802346 - 04/08/13 03:41 PM Soliciting current mortgage customers
BankerChic24 Offline
Junior Member
Joined: Jul 2011
Posts: 45
Midwest
Are there any laws prohibiting a bank from soliciting current residential mortgage customers about refinancing at a lower rate?
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#1802364 - 04/08/13 04:17 PM Re: Soliciting current mortgage customers BankerChic24
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
Posts: 46,832
Bloomington, IN
Make sure you comply with Do Not Call requirements.

IN has a prohibition from calling existing customers if they are on the National, State or internal DNC list. Therefore you would have to purchase the National and State lists to make sure the customers are not on one of the lists.
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#1802917 - 04/09/13 07:20 PM Re: Soliciting current mortgage customers BankerChic24
Norman Paperman Offline
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Norman Paperman
Joined: Aug 2012
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Hi Dan. I wasn't aware that this rule applied to current customers. The Q&A on...

http://business.ftc.gov/documents/alt129-qa-telemarketers-sellers-about-dnc-provisions-tsr

states the following...

4. What types of calls are not covered by the National Do Not Call Registry?

The do not call provisions do not cover calls from political organizations, charities, telephone surveyors, or companies with which a consumer has an existing business relationship.

Can you tell me where to go to view the rules in their entirety?
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#1802943 - 04/09/13 07:42 PM Re: Soliciting current mortgage customers BankerChic24
rlcarey Online
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rlcarey
Joined: Jul 2001
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Galveston, TX
Dan indicated "IN has a prohibition".

In this case, IN means Indiana. IN other words - check your State laws too. smile
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#1802952 - 04/09/13 07:49 PM Re: Soliciting current mortgage customers BankerChic24
Norman Paperman Offline
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Norman Paperman
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Roger that Randy. I assumed IN was a typo and that he meant "It".

I knew it had to be something. Dan is always spot on.
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#1803029 - 04/09/13 09:03 PM Re: Soliciting current mortgage customers BankerChic24
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
Posts: 46,832
Bloomington, IN
Gosh, I've typed IN for Indiana for so many years it's just second nature. Sorry for the confusion Garret and thanks for clarifying the "IN" Randay.
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