I just received this email:
Dear Mortgage Brokers,
This notice is to inform you that our 24 Hour Mortgage Trigger Database has recently been updated. This means that we are able to offer you data from either:
Equifax, Experian or Trans Union
Our leads come with:
FICO, Name, Address, Phone Number, Amount of Aggregated Revolving Debt, Mortgage Loan Amount, Lender Name, Loan to Value, Monthly Payment on Mortgage – Credit Cards – Automobile
We can target all 50 states by: County, Zipcode, Zipcode Radius, City & Major Metropolitan Area.
Response within 24 hours is required to guarantee this price.
Give me a call and I can have you setup to get leads the same day."
When you visit their website (I’m not promoting here), they offer:
"… specific credit information on consumers based on actual credit records. This database covers 50 states and over 300 million people. From this database, selections can be made on credit score, amount of debt, late payments, mortgage type and monthly payments. This data is primarily used to identify individuals based on their current credit situation and purchase indicators."
If President Bush really wants to stop predatory lending , or as he said last week regarding Loan Originators “if you’ve been cheatin’ somebody, we’re gonna find you.” Perhaps he could start by not allowing the major credit bureaus from reselling the (currently not so) private information of consumers.
In the meantime, I highly encourage you to write to your elected officials to tell them to stop "trigger lists". There is NOTHING good about this practice.