Southland News

What to expect after applying for a home loan

So, you've recently taken a big step and applied for a home loan through your trusted credit union. Congratulations on your journey to homeownership! We're thrilled to be a part of this exciting chapter in your life.

Now, if you’ve recently submitted a mortgage application, or plan to do so, you may have heard of “trigger leads.” If you’ve started to receive an influx of emails and phone calls you did not ask for, or if you want to prevent them from happening in the first place, continue reading to learn what to do.

What are trigger leads, anyway?

Trigger leads are like the nosy neighbors of the mortgage world. When you apply for a home loan, it causes a little blip on your credit report. Guess what? That blip is like a beacon to various companies, including mortgage lenders, banks, and credit card folks. They think, "Hey, here's someone who's interested in a loan!" So, they swoop in and try to get in touch with you to compete for your business.

Your privacy is our priority

Before we dive deeper into trigger leads, we want to make something clear: Southland Credit Union values your privacy. We don't sell your personal information to anyone, period. Your data stays safe and sound with us. When you choose to apply for a loan through Southland, your data remains secure, and we do not share your information with third parties for marketing purposes. We take your privacy seriously and abide by all applicable laws and regulations to safeguard your financial information.

Expect a flood of calls and emails

Now, here's the catch. Even though we keep your information under lock and key, those trigger leads can still lead to a barrage of calls and emails from other lenders and money-minded institutions. These companies obtain your contact information from credit bureaus. They're just trying to get your attention with offers, deals and inquiries about your home loan application.

How to deal with trigger leads

Handling these calls and emails can be like a game of whack-a-mole. While these calls feel invasive, they are completely legal. Here are a couple of ways to lessen the blow:

Opt Out

If your credit report has already been pulled, this may not stop the calls and emails immediately, but you can notify the credit bureaus that you do not want them to sell your information.

Go to OptOutPrescreen.com or call 888-5-OPT-OUT.

Add your number to the Do Not Call List

To eliminate unwanted phone calls, add your phone number to the Do Not Call Registry. Note that this may take a few weeks to become effective.

We're here to make your homeownership journey as smooth as possible, and we're always just a phone call or email away. If you have questions about the application process, please reach out to your Mortgage Loan Consultant. Thanks for choosing Southland Credit Union as your trusted partner in achieving your homeownership dreams.

Happy house hunting! 🏠✨