Equifax Mortgage Trigger Leads

A Mortgage Trigger Lead is the name, address, telephone numbers and other contact information of someone, who had recently applied for a home loan. The credit bureaus sell this information to approved buyers so that they can in turn get in touch with these people for marketing their home loan products. A trigger lead is a firm inquiry into a prospective borrowers' credit worthiness for the purposes of mortgage assessment. These leads are not generated from auto loan applications, insurance inquires or a credit card application. The credit bureau specifically codes according to the type of inquiry by industry and the type of credit evaluation.

It is, at present, a buyer's market and many people in several parts of the US are seeking new home mortgages. The filling in an application form for a home loan results in the name of that particular person being automatically added a 'trigger list' These names are then circulated to various corporations, whose main line of business is providing home loans. Buying such trigger leads is an indication that the concerned lender is interested to do business with those trigger leads. Real Estate Mortgage Trigger Leads enable many lending companies to get in touch with people who are looking for their services. This method saves a lot of time, effort and money of all concerned. There may be some home loan applicants, who would not like to be contacted and the lenders also do not wish to spend their precious time in calling those people, who are not interested in what they offer.

Equifax Inc is a consumer credit reporting agency in the US, established in 1899. It is one of the three largest American credit agencies along with Experian and Transunion. Equifax is the oldest among the three credit agencies and is located in Atlanta, Georgia. It collects and maintains information on over 400 million credit holders worldwide. Only Equifax and Experian provide original trigger leads. One cannot simply call up the credit agencies and purchase trigger leads. There is an elaborate approval process involved. There is nothing like an exclusive trigger lead. Some of the credit agencies, like Equifax and Experian sell every lead to multiple buyers, if they are available. A 'fresh trigger lead' is delivered within 24 hours of application. On the other hand an 'aged trigger lead' can be a week or a month or even many months old.

There is major price difference between the two types of leads. An aged list of trigger leads is much cheaper than fresh leads. It is advisable to those lenders, who are competing for refinance business, to purchase fresh trigger leads, which are normally sold for $0.30 to $ 0.50. There are a number of ways that a company could utilize the lists of mortgage trigger leads, the most important among them being to publicize about the mortgage loan products they have to offer. A lender can get online mortgage leads through websites or several other sources. There were two major reasons for this scenario. Interest rates had come down considerably around 2003 and 2004, and investors were looking for other avenues for parking funds. Pension funds were major contributors to this movement. Mortgage loans obviously offered better returns with greater safety. This prompted rather forced the lenders to compete. Lenders unfortunately threw caution to winds, and created products, which roped in people who truly could not afford to take any mortgage loans. This is a fairly large section of the society. Consequently, such an action on the part of lenders resulted in higher demand for real estate, increase in real estate prices. Proportionately, prices of higher end properties also increased.

Everybody started rushing to buy some properties fearing that soon these properties will truly be out of their reach. This added fuel to fire. When the bubble burst, as was inevitable, the prices of properties witnessed sharp decline. Added to this was loss of jobs, which forced many of the mortgage loan takers to liquidate their properties. This drove properties down some more. Soon foreclosure became an undesirable option for both lenders as well as borrowers as neither stood to gain from it. Scalded in this way, many people have steered clear of real estate properties, and that has made real estate leads all the more precious for lenders. Methods for generating real estate leads include advertising products, using call centers to search for new clients, and buying Credit trigger leads from credit bureaus. It may come as a surprise to many that credit bureaus can become a very good source of mortgage leads. The probability of credit bureau leads becoming mortgage loan takers are considerably higher when compared to mortgage leads generated by other means. This is the reason Equifax mortgage trigger leads, Experian mortgage trigger leads, and Transunion Mortgage Trigger leads are highly valued by the lenders in the US.