Trigger leads are created and sold super fast, often within 24 hours of your loan application. Out of the blue, your phone might ring and suddenly you’re the target of a pitch from a competitor offering a deal that may be real, deceptive or no better than the one you’ve already been quoted.

Enough of these lead-driven offers are deceptive that an industry group, the National Association of Mortgage Brokers, last week began pushing a campaign on Capitol Hill for an outright ban. John G. Stevens, president of the association, which represents midsize and small mortgage companies, told me that trigger leads sold by the national credit bureaus inevitably “expose borrowers to identity theft,” disrupt ongoing mortgage transactions and open the door to a wide range of “unscrupulous” come-ons.

See the full article on The Washington Post