My lender ran my credit report and now the whole world knows..

By
Mortgage and Lending with Pacific Funding

Here's a simple thing you should recommend to all of your clients even if your aren't the one running their credit report. 

Tell your clients to call 888-567-8688 or go online at https://www.optoutprescreen.com and have them sign up for this free service to stop the credit bureaus from selling their personal and private information.  Everyone seems to know the "do not call" list however it appears that very few people have heard of the opt out list for credit reports.  Signing up for this list ensures that your credit profile and personal information is not sold by the credit bureaus to 3rd parties. 

With all the identity theft and credit fraud that goes on in this country, we as responsible mortgage brokers (or Realtors) should be protective of our clients private information and should take every step possible to ensure their privacy.  In addition to having your clients sign up for this service, here's a simple checklist you can use to make sure your doing your part in protecting client's privacy.

  • Shred all unnecesary docs that have, address, soc #'s or acct information
  • When you go home at the end of the day, do not leave docs with client info on your desk.  Clean your desk and lock your files.. (don't leave things out for the cleaning crew)
  • Make sure your screen saver is password protected.
  • Password protect (or encrypt) any email that has private client data.
  • Be mindful of conversations you have with colleagues about clients while in public places, you never know who is sitting in the next restuarant booth over.
  • Make sure your staff is doing all of the above.

I'm sure you're probably doing all of these items already, however the biggest vulnerability comes from suport personnel and staff, who may not share the same level of responsibility as you.  Review these simple items with them and don't tolerate dis-organization that can comprise a clients personal information. 

Ohhh and don't forget.. Call that phone number for yourself.. Sometimes we take care of everyone else and forgot about us..

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Location:
California Los Angeles County Valencia
Tags:
privacy
optout
security
credit card fraud
mortgage
martin rodriguez

Comments 31 New Comment

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Rainer
36,546
Martin Rodriguez
Senior Loan Consultant
Pacific Funding

Thanks to all who have replied...

Brian, yes you're right this will stop credit info from being sold to 3rd parties, but it will not stop soft inquiries that can be used for junk mail.  You could always contact the bureaus to place a fraud alert on your credit report and that will alert you anytime someone tries to access your credit report.

One of the biggest offenders of running credit and selling credit info is actually the cell phone companies.  For example you buy a new verizon phone, they run your credit report for that 2 year phone contract, and they never tell you that your credit is being run.  Of course if you read the fine print, the contract reads that you are authorizing them to run your credit report whenever they want.  baddabing baddaboom we got your credit now and we're going to sell it for a profit.

No thanks, Verizon.. I think I'll pass.

Can You HEAR ME NOW...

MR

March 14, 2007 09:59 AM
Rainer
77,081
Patrick Harfst
HomeSmart - Gilbert AZ

Martin!

Thank you for this... I logged on, opted out and was done inside of 2 minutes... Pretty easy! I'll be adding a link to this site in my newsletters, starting right now!

Thanks,

Pat 

March 14, 2007 10:16 AM
Rainer
114,676
Rich Schiffer
Referral Agent, e-PRO
Michael Delp , you are too modest.  You should have included a link to your recent post, My turn to Rant about this very topic.  It really does go hand in hand with this post.
March 14, 2007 11:13 AM
Rainer
32,083
John Evarts
Classic Property Management of Santa Clarita

Martin, you are the man! This was perhaps your best work yet. This info needs to get to everyone.

 

March 14, 2007 02:15 PM
Ambassador
550,989
"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc.

Hi Martin :)

I was reading your poem about seeking our comments. I already know about the opt out, but I did want to leave you with a gift...

 

 

 

 

 

 

This was made by a The Codgers. It goes very well with your poem and would look great in your posts. SVW (smiling very wide)

TLW...ROAR!

March 14, 2007 04:54 PM
Rainer
64,690
Kelli Fronabarger
Realtor - Bend Oregon
Bend River Realty Inc.

Martin,

Excellent post ! ! I would like to include this is my seller buyer file with your permission and credit to you as author. May I? I will also be bookmarking this for my own reference. Thank you : )

March 14, 2007 07:02 PM
Rainer
128,954
David A. Podgursky
PA
Boynton Beach & Lake Worth Florida Real Estate Broker Associ

another important point is...

your WORK LAPTOP is for YOU and YOU ALONE

don't lend it out

don't even let your friends, wife, etc check their emails on it...

it has too much extremely valuable data on it.

In fact, a good idea is to simply pull files that aren't active off the hard drive and move them to an external back up... then if your computer is stolen or lost, only a fraction of your data is available for thieves

March 14, 2007 07:02 PM
Rainmaker
199,655
William Collins
Director of Property Management
ERA Queen City Realty

Martin,

Thanks for the post. I did not know about the opt out process for credit bureaus. This is great information!

March 15, 2007 09:02 AM
Rainmaker
261,430
Wayne B. Pruner
Tigard Oregon Homes for Sale, Realtor, GRI
Oregon First
This is good info. I "opted out" 6 months ago and it dramatically cut unsolicited credit offers.
March 14, 2007 10:55 PM
Rainmaker
90,946
Roger Stensland
King & Pierce County Homes Home Resource Group -
Keller Williams Realty Puget Sound
Thanks for the post.  I forgot to opt out.  I guess that I'll do it next week.
March 14, 2007 11:12 PM
Rainmaker
114,288
Ken Spencer
for Verrado, Buckeye, Sundance
Serendra Realty Group

Well this is new to me.  I really didn't know that the credit company is permitted to sell my information without me knowing it.  That's an interesting fact.

Ken

March 15, 2007 12:14 AM
Rainer
36,546
Martin Rodriguez
Senior Loan Consultant
Pacific Funding

Hey TLW,

thanks for the gift.. It took me a few minutes to figure out what you meant... (i'm obviously not too bright). 

I got a gift and a roar...  You are too cool..

Thanks will be in touch.

Martin

March 15, 2007 01:53 AM
Rainer
14,715
Brian Papaccio
Wells Fargo Home Loans

Dan If you really want to do your part to keep postal rates down, open the junk mail.  Take out the self addressed pre-paid envelope, then shred the junk, stuff it in the pre-paid envelope and send it back.

Martin The sign up I was talking about is not the do not call, I'll have to dig up the link and info I got to see the specifics, I thought it was for prohibiting soft pulls, but it might be just preventing credit bureaus from selling to third parties, which would take care of the Trigger lead situation.

 

March 15, 2007 07:59 AM
Rainer
41,868
John Klassen
M & T Bank
The triggered leads that the bureaus sell are pure BS. Not the leads, the fact that they sell them.
March 16, 2007 02:39 PM
Rainmaker
847,440
Jeff Turner
RealSatisfied

Martin, this is good stuff, my friend. And it's nice to see TLW has noticed you. We need to get her to CA for a BBQ.

 

March 17, 2007 03:28 AM
Rainer
2,609
Tonisha Mitchell
Dollar Mortgage and Financial
Thanks for such a great post! Now a days its so easy to get someone's personal information. I shred everything now! And the Do Not Call List does help with all the b.s. calls. Thanks!
March 17, 2007 10:27 AM
Rainmaker
307,323
Maggie Dokic
CDPE, SFR, Pinecrest | Palmetto Bay |
Special Miami Homes
Your post has been included in the week in review.
March 19, 2007 09:01 AM
Rainer
32,083
John Evarts
Classic Property Management of Santa Clarita
Martin, your blogs are often, but they don't come often enough. Write more.
March 19, 2007 12:54 PM
Rainer
114,676
Rich Schiffer
Referral Agent, e-PRO

Apparently, this issue was taken up by the FTC recently.  Read about their statement here.

 

March 27, 2007 09:34 AM
Anonymous #31
Anonymous
Victor Franqui

As a loan officer for many years I have always found it amazing how people just do not understand there credit and how low on there priorities it is, of course until they need a loan. This site is quite informative and a breath of fresh air.

 

Victor Franqui   

www.24hourmortgage.info 

May 26, 2007 01:41 PM
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Rainer
36,546

Martin Rodriguez

Senior Loan Consultant
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