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Do Not Become A Trigger Lead
February 28, 2018
Consumers “don’t know who they’re really talking to,” Stevens said. “They don’t know whether to believe” what the caller is offering them, and they frequently are misled. To illustrate the problem, Meridian Home Mortgage, a Maryland lender, recently posted a recording of a voice mail that it says was an actual trigger-lead call to a borrower. The caller “misrepresents who he is, where he is calling from and even the purpose of the call,” Meridian said. He identifies himself as “an underwriter” rather than a telemarketer and “falsely claims to be calling from Fannie Mae,” the government-backed home-loan investor. The caller then says he’s following up on a “loan application” made to “our agency yesterday,” implying falsely that he already has the borrower’s basic information and simply needs to follow up with some additional questions.
“The sole purpose of trigger calls like this is to trick consumers into applying with their company,” according to Meridian. “Many [people] have been duped into allowing these lenders to pull credit and review their financial information. It’s only after speaking with their original lender that they realize they have inadvertently opened a credit file with an unknown entity.” (You can listen to the trigger pitch at meridianhm.com/resource/blog/abusing-trigger-leads.)