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What exactly is a Trigger Lead? |
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A Trigger Lead is a mortgage holder who's had a hard inquiry for a mortgage against their credit report in the past 24 hours. This can occur for a variety of reasons, but usually when someone is beginning the process of application for a mortgage refinance. |
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What other reasons are there for a hard inquiry to be generated? |
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Sometimes, an underwriting department will pull a hard inquiry when an application is delivered to them. Underwriters may also pull a credit report if the time since the initial application has been too long and the applicant's credit could have changed during this period. If the Trigger Lead was captured and sold at the beginning of the application process, this name is suppressed from all orders for 90 days. Doing so eliminates most of the underwriting hard inquires.
After application, a broker may inform the applicant that they should have no trouble being approved for their loan request. However, if there is a denial, the broker may attempt to get them reassigned with a different lender before telling them the bad news. In this case, the new lender may require the broker to pull a new credit report, or the new underwriting department may pull a new credit report. If the Trigger Lead was captured and sold at the beginning of the application process, this name is suppressed from all orders for 90 days. Doing so eliminates most of the underwriting hard inquires.
Not often, but sometimes a lender will make a hard inquiry into their own customers credit report (they are supposed to get permission from the customer before doing this), but it does happens. |
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Will there be disconnected phone numbers? |
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Yes. The credit bureau does a great job keeping track of trade line transactional data, but it encounters the same challenges other businesses do in tracking accurate phone numbers. Because of this challenge, we pass the phone file against two separate phone verification systems in a attempt to correct bad numbers before you get them. This process flags bad numbers and corrects them if we have the correct one. We then upload all the phone numbers against the DNC registry data before releasing them. Even with this multi-pass process, we still see a varied percentage of disconnected phones. |
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Can we sell to Banks and/or Correspondence Lenders? |
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No, we cannot. We currently do not have proper agreements in place to release Trigger Leads to either banks or correspondence lenders. We can only provide Trigger Leads to mortgage brokers. |
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The phone number is actually a fax number, why? |
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Some people have fax machines in their homes. We have no way of distinguishing a phone from home fax. |
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Why are there such low counts in certain states? |
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Because we suppress other brokers' orders, our available data for any given area will vary. We'll be glad to run counts for your market to determine in advance what quantity of leads are available. |
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Can I specify the lead parameters? |
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Yes. You can select the FICO scores, mortgage amounts, LTV ratios, geography, revolving debt balances and much more (see Available Trigger Selects page for a full list of parameters). |
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Do you charge extra for these filters? |
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No, Trigger Leads Direct never charges you extra for the filters that create your ideal borrower. |
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How are the leads delivered? |
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You will receive your leads via email in an Excel spreadsheet. |
