Sales leads vs. Individual right to privacy???

HAL CHAMPENOIS — Sat, 04 Nov 2006 06:49:54 -0600

I was approached recently with an opportunity to purchase mortgage leads. This lead source really got me to thinking, and I would like to hear what other industry pro's have to say about this. I understand that the big 3 credit reporting companies stay in business by selling information. My area of concern is what is public information and what is private information?

This particular agency is able to identify which recent credit pulls are in response to a mortgage application, and are selling a list of contacts which has been created using that information. This agency is deciding to put consumers into a category based on an action of the consumer. I think the consumer’s action of applying for credit is a private matter, and should not be sold by anyone, without specific permission, for any reason. I know that this is one of the "gray" areas of our right to privacy regulations. I also realize that this has been around a very long time and is used in other industries marketing for years. I believe that this categorization, based only on a particular action, is quite speculative and assuming by the party doing so. If, as individuals, we allow our information to be used in this way, we are setting a precedent which could allow any agency to categorize us any way they choose, and distribute that information any way they choose. I guess I'm "old school" but I believe that nobody has the right to use, sell, or otherwise distribute any information about me that I have not given them the specific right to distribute. My applying for a loan does not in any way give anyone a right to categorize me and distribute that information.

I'll get off my soapbox now and ask for comments about this subject. What do ya'll think? Wave of the future or dangerous precedents?

HAL's Blog

Sales leads vs. Individual right to privacy???