Comments on: More from the mortgage-junk-mail bag http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/ Seattle's Leading Resource for Real Estate Information Sun, 08 Nov 2009 01:47:42 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Rhonda Porter http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-320031 Rhonda Porter Thu, 19 Jun 2008 22:59:27 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-320031 Dee, I'm glad you realized that it's a scam. I encourage you to forward that piece of junk mail to your state's DFI office. Dee, I’m glad you realized that it’s a scam. I encourage you to forward that piece of junk mail to your state’s DFI office.

]]> By: Dee http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-320026 Dee Thu, 19 Jun 2008 22:17:09 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-320026 Got a snail mail stating "Final Notice", opened it and got a scare as I first noticed that it was related to my mortgage. After reading the letter I realized that it was just scam junk mail. I called the number listed on the letter (800) 462-3118 to ask them to remove my name from their mailing list. The guy I spoke to said that he would do so but when I started to make a comment about their unacceptable use of the "Final Notice" term he just hung up on me. I called back again and spoke to the same guy stating that hanging up on people was very unprofessional and he just hung up on me again. What a rude, sneaky little coward! They realize that their practices are so vulgar and unethical that they are unwilling to even discuss them on the phone. These guys are a crown of scam artists, do not go near them. Got a snail mail stating “Final Notice”, opened it and got a scare as I first noticed that it was related to my mortgage. After reading the letter I realized that it was just scam junk mail. I called the number listed on the letter (800) 462-3118 to ask them to remove my name from their mailing list. The guy I spoke to said that he would do so but when I started to make a comment about their unacceptable use of the “Final Notice” term he just hung up on me. I called back again and spoke to the same guy stating that hanging up on people was very unprofessional and he just hung up on me again. What a rude, sneaky little coward! They realize that their practices are so vulgar and unethical that they are unwilling to even discuss them on the phone. These guys are a crown of scam artists, do not go near them.

]]> By: Deceptive Radio Advertising in Mortgage Lending | Rain City Guide | A Seattle Real Estate Blog... http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-184526 Deceptive Radio Advertising in Mortgage Lending | Rain City Guide | A Seattle Real Estate Blog... Mon, 24 Sep 2007 18:05:09 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-184526 [...] Deceptive Radio Advertising in Mortgage Lending September 24, 2007 Because of the enormous amount of deceptive direct mail, Internet, and email spam advertising currently taking place in mortgage lending, for this blog article, let’s focus on radio advertisements. [...] [...] Deceptive Radio Advertising in Mortgage Lending September 24, 2007 Because of the enormous amount of deceptive direct mail, Internet, and email spam advertising currently taking place in mortgage lending, for this blog article, let’s focus on radio advertisements. [...]

]]> By: Who is to Blame for the Subprime Meltdown? | Rain City Guide | A Seattle Real Estate Blog... http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-181300 Who is to Blame for the Subprime Meltdown? | Rain City Guide | A Seattle Real Estate Blog... Mon, 17 Sep 2007 16:35:39 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-181300 [...] Deceptive, bait-and-switch advertising from mortgage lenders in the mail and on the radio; [...] [...] Deceptive, bait-and-switch advertising from mortgage lenders in the mail and on the radio; [...]

]]> By: Rhonda Porter http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-177072 Rhonda Porter Tue, 04 Sep 2007 20:21:06 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-177072 Gary, sorry...I had to re-read your comment. Thanks for the correction. Gary, sorry…I had to re-read your comment. Thanks for the correction.

]]> By: Gary http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-177067 Gary Tue, 04 Sep 2007 20:14:11 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-177067 Rhonda @11. That was my point. It was junk mail disguised to look like it was from Golf when it was, in fact, not. Re-read my original post. It's clear that I'm saying it wasn't from them. No need for a lecture on responsibility. Rhonda @11. That was my point. It was junk mail disguised to look like it was from Golf when it was, in fact, not. Re-read my original post. It’s clear that I’m saying it wasn’t from them. No need for a lecture on responsibility.

]]> By: David Young #510-LO-34429 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-176443 David Young #510-LO-34429 Mon, 03 Sep 2007 04:23:22 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-176443 Here's a brief rundown: Lenders can purchase trigger leads. This is where the credit bureaus (Experian, Transunion, and Equifax) sell people's information. Loan Network utilizes this lead system. Typically, someone goes to their mortgage broker, and has their credit pulled, then that info is then sold to sometimes multiple mortgage lenders who then cold call borrowers and try to sell them option loans b/c of the "lower rate". Lenders also can do direct mail marketing with the names of the mortgage company that originated the current loan on their mail. They pull all this info off title records. This, actually, is how Countrywide did a lot of their cold call marketing claiming the call was a 'customer service' call asking if the borrowers had any questions about their mortgages....hmm....right.... Cool stuff huh? The world we live in! Here’s a brief rundown:

Lenders can purchase trigger leads. This is where the credit bureaus (Experian, Transunion, and Equifax) sell people’s information. Loan Network utilizes this lead system. Typically, someone goes to their mortgage broker, and has their credit pulled, then that info is then sold to sometimes multiple mortgage lenders who then cold call borrowers and try to sell them option loans b/c of the “lower rate”.

Lenders also can do direct mail marketing with the names of the mortgage company that originated the current loan on their mail. They pull all this info off title records. This, actually, is how Countrywide did a lot of their cold call marketing claiming the call was a ‘customer service’ call asking if the borrowers had any questions about their mortgages….hmm….right….

Cool stuff huh? The world we live in!

]]> By: Rhonda Porter http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-175935 Rhonda Porter Sat, 01 Sep 2007 18:33:42 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-175935 Ardell, unfortunately the box your check on the privacy notice is only to stop mailing from YOUR LO and/or mortgage company. You're still fair game if own a mortgage by any other person who uses a sleezy shady mailer. Our info is public record. Some use to obtain lists from title companies...our info is for sale. If not by public recored, you can buy a list from the big-3 credit bureaus. If a lender (or any junk mailer) is sending something with a reply form, I like to return it to them blank...for some twisted reason I feel pretty good about costing them money since they're wasting my time and using fear tactics and trickery towards innocent home owners. You can opt out from the bureaus and other offers. I linked to it in the comments on 7. Ardell, unfortunately the box your check on the privacy notice is only to stop mailing from YOUR LO and/or mortgage company.

You’re still fair game if own a mortgage by any other person who uses a sleezy shady mailer. Our info is public record. Some use to obtain lists from title companies…our info is for sale. If not by public recored, you can buy a list from the big-3 credit bureaus.

If a lender (or any junk mailer) is sending something with a reply form, I like to return it to them blank…for some twisted reason I feel pretty good about costing them money since they’re wasting my time and using fear tactics and trickery towards innocent home owners.

You can opt out from the bureaus and other offers. I linked to it in the comments on 7.

]]> By: ARDELL http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-175933 ARDELL Sat, 01 Sep 2007 18:28:19 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-175933 Rhonda, I thought there was some way to prevent these shady mailings? A box that gets checked by your original LO or Escrow Company to prevent your info from being distributed out to the shady mailers...no? Rhonda,

I thought there was some way to prevent these shady mailings? A box that gets checked by your original LO or Escrow Company to prevent your info from being distributed out to the shady mailers…no?

]]> By: Rhonda Porter http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-175893 Rhonda Porter Sat, 01 Sep 2007 15:25:14 +0000 http://raincityguide.com/2007/08/30/more-from-the-mortgage-junk-mail-bag/#comment-175893 Gary, why say that it was from Golf (#3)? It's irresponsible to say it was from them when it was not. Gary, why say that it was from Golf (#3)? It’s irresponsible to say it was from them when it was not.

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