The major credit firms (Experian, Transunion and Equifax) offer a rather abhorrent product to real estate, mortgage and insurance companies.
As everyone knows, when a borrower applies for a loan or asks to be prequalified, the lender pulls a credit report. What is for sale by the credit agencies is the fact that a mortgage firm (bank or broker) has made a credit inquiry, as well as the individual’s name and address. To the types of companies which stoop to this method of obtaining leads, this is a signal that someone is considering a real estate purchase, and they would like to contact such individuals with advertising of their own.
In this country, we all advertise, and we all compete. But do many people know that the credit agencies are allowing this information to be mined, and if they knew, would they like it?
There is a way to stop it. Check out this website: www.optoutprescreen.com
It has a super simple way to restrict this type of use of your personal information.
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