I've been frusterated lately by a new form of unfair lending competition that has been taking place by mortgage companies and larger lenders. After we pull credit reports for our clients, competitors are paying the credit reporting companies to alert them that a "mortgage" inquiry has been made, be it for a purchase or refinance. I have had multiple clients call me up, asking if I sold their information to other lenders, letting them know that they were looking for financing. My response, "ofcourse not...why would I want to do that?" Fortunatly, I have not lost any clients to this type of scheme so far. I think that it is shady and unfair for those that are out there and working hard. The practice only puts a black mark on the industry and the good that we can do for our clients. This link is the best defense that I have found for such activities! https://www.optoutprescreen.com/?rf=t
Scott Gormley
Broker/Owner
Oak Valley Mortgage
2006 Chico Assoc. of Realtors Affiliate Chairman
Direct: 530.592.8362
Fax: 530.267.5555
Website: http://www.CALoan.com
"You find the perfect home, we'll find the perfect loan!"
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