Lenders themselves will not sell your personal information to telemarketers. However, your information can still be distributed. When you apply for a mortgage your lender will run your credit through the three major credit reporting agencies: Equifax, Experian and Transunion. When your credit is pulled, your credit report shows that you’ve had an inquiry. Once the inquiry is identified as related to a mortgage, credit-reporting agencies know your trying to obtain a home loan. The credit bureaus can then sell your information, referred to as a trigger lead, to other prospective mortgage lenders who are looking for high quality leads. Trigger leads are sold by the credit-reporting agencies to any entity that wishes to purchase them, adding that there is currently no way to opt out when it comes to having your information distributed through trigger leads.
In the financial labyrinth, the intricate link between the Federal Reserve’s interest rates and mortgage rates often perplexes both novice and seasoned investors alike. Understanding