Please Don’t Get Pummeled With Phone Calls (Opt Out)
I blogged a few weeks ago about borrowers getting pummeled (literally) with phone calls after they apply for mortgages. This is because credit bureaus sell borrower info. Online lenders then buy that info as “leads” and go after those borrowers with reckless abandon.
I bring this up again because one of our team members recently pulled her own credit and received 30 phone calls shortly thereafter, as she apparently forgot to read my blog about “opting out.” 😊
In this short blog, I explain how and why borrowers can easily “opt out” (or prevent credit bureaus from selling their info).
Shocking: Huge Mortgage Lender Exits Business
One of America’s largest mortgage banks recently announced that it is exiting the mortgage business, as discussed in this HousingWire article here.
It was shocking because (A) they were so large, having funded tens of billions of mortgages through its various channels in recent years; (B) they spent tens of millions as recently as last year acquiring other mortgage companies and recruiting loan officers and account reps; and (C) they went public last year as a mortgage company – which can only make one shake his head in amazement.
Many lenders are going belly up or exiting the business right now in the face of a huge drop-off in volume – so this blog is just another reminder that JVM is here to stay!
We love this business and look forward to many more years of success.
JVM’s Rate-Drop Free-Fi®
Given JVM’s commitment to stick around and given the strong likelihood of a sharp drop in rates next year, this is a great time to remind everyone of JVM’s Rate Drop Free-Fi® Program.
Not only does JVM closely monitor every one of our clients’ rates for refi opportunities, we will do the refi’s with minimal, no, or greatly reduced closing costs.
In other words, if past clients refinance with us, we will cover their non-recurring closing costs (title, escrow, appraisal, underwriting, notary, etc.) with a lender credit.
There are a few caveats of course, including a requirement that clients wait at least four months from their purchase to lock in their refi, but the gist is this: we will help all of our clients overcome one of the biggest refi obstacles, which is how to cover closing costs.
Founder | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167