Mortgage Telemarketing Coming Under Scrutiny

http://www.insidearm.com/news/00001560-mortgage-telemarketing-coming-under-scrut/

Though possibly not legal for much longer, mortgage companies currently have fairly cheap access to new mortgage application alerts. These alerts can be detailed down to how much the prospective home owner is asking for.

Leads about borrowers’ interest in a mortgage can be sold unless consumers bother to opt out from all prescreened credit solicitations. The selling of these leads, credit agencies argue, promotes competition and keeps rates down.

In a long piece by the Associated Press, the practice of mortgage telemarketing is examined – and its fate – are examined. You can read it here.