What do you Know About the Do Not Call List (DNC)

By
Mortgage and Lending with Mekka International Business and Financial Services

If your company do not have a comprehensive DNC policy currently in place, they are leaving you out to the wolves.

The DNC laws were originally enacted to curb unsolicited telemarketing calls, but in reality these laws apply to all United States Companies that make solicitations over the telephone, even if they are traditional "Cold Calls" including mortgage companies.

Even if you don't consider yourself a telemarketer the government does. In fact over half of the citations issued by the Federal Government to date have been to mortgage and real estate companies.

One mortgage company was fined $770,000.00

Allow me to give you an example of an unsuspecting call that could cause a mortgage company as well as the agent that originate the call a problem with the FCC or FTC.

You have a good buddy, we will call him John C. Realtor. He has a client that is in the process of purchasing a home. He informs his client that you Judy C. Originator is the ultimate professional in the mortgage industry and could possibly get him the best rate based on his credit score. John C. Realtor pass his clients information to you for you to call.

You put in a call to the potential client. The client's number is on the DNC list.

When you made the call he was not paying attention when ole John gave him your information, he forgot or he was just in a foul mood for some reason. Maybe he thought your rates were a bit too high, at any rate he reports you to the FCC. This one call can cost you as much as $11,000 as well as your company could be charged the same amount. Further you and your company may now be sued by this same client.

If you are currently working for a company that does not have a comprehensive DNC policy in effect you have approximately 4 options

#1 Report your company to the FCC

#2 Report your company to the FTC

#3 You can roll the dice and hope that you don't get caught

#4 You can find a company that does have a DNC policy in effect

In order to be in compliance with the current DNC laws, your company need

#1 Apply for an secure a Subscription Account Number (SAN)

#2 Enact a compliance policy

#3 Train all employees concerning the DNC list and how to update the list

#4 Keep records of all inquiries

#5 Keep records of past and current customers.

If for any reason you are reported by a Consumer, not only the company, but the person making the telephone call can be held accountable.

The fine for a single report by a consumer is $11,000.00 for each offense for the company as well as the person making the telephone calls. 

You can find a wealth of information from the following web sites of the FTC and FCC listed below

Http://www.ftc.gov

Http://www.fcc.gov

 

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