PreScreen Opt-Out

PreScreen Opt-Out

Under the Fair Credit Reporting Act, Consumer Credit Reporting Agencies can share lists that contain the information of people who had recent credit inquiries, such as with mortgage applications. Companies, and sometimes individuals, purchase those lists with the intention of soliciting and selling additional credit and loan services, known as “Firm Offers”, to the unsuspecting borrower.

These solicitations start quickly and continue even after the loan has closed. Many borrowers would prefer not to receive the extra “junk” mail or sales calls, and fortunately there is an easy fix!

  • Visit www.OptOutPrescreen.com to opt-out. This prevents the Consumer Credit Reporting Companies from providing your credit file information for Firm Offers.
  • You can choose to opt-out for five years, or permanently.
  • If you ever change your mind, you can also visit this site to opt-in and receive eligible offers again.

You should be able to choose whether you want your information shared with potential solicitors as a result of your mortgage application. That’s why at First Home Mortgage, we know the importance of sharing this information with all our clients, to ensure you know your rights under the Fair Credit Reporting Act.

Please reach out to one of our loan officers if you have any questions!

 

 

 

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