NAMB expands consumer education effort with homebuyer brochureMortgagePress.comavoid identity theft, consumer education, credit report, trigger lists
The National Association of
Mortgage Brokers has introduced a brochure designed to help
consumers protect their identities when applying for a home loan.
Titled, "What Happens When Your Credit Report is Requested?" the
brochure includes advice on how to avoid identity theft, stop
unwanted phone solicitations and spot fraudulent offers of credit.
The brochure is available for purchase online at www.stoptriggers.org.
"This brochure is one more way NAMB is demonstrating its
commitment to consumer education," said NAMB Immediate Past
President Harry Dinham, CMC. "Understanding how credit and credit
reports work is one of the first steps to owning your own home. We
want to make sure consumers are aware of the threats to their good
credit and what they can do to protect themselves."
The brochure walks consumers through the steps that take place
after a mortgage originator requests a credit report. One of the
most common problems individuals face is unsolicited calls from
would-be mortgage providers. These calls occur when credit agencies
sell personal data about consumers to lead-generation companies.
Called trigger lists, NAMB has been a vocal opponent of this
practice, because it can be so closely aligned with identity theft
and deceitful sales tactics.
Other steps outlined in the brochure to protect your private
information include:
•Avoid clicking on links in unsolicited e-mails and using
obvious passwords for access to personal Web information or other
files;
•Do not give out personal information without knowing the
person you are dealing with; and
•If you think your identity has been stolen or personal
information compromised, contact the Federal Trade Commission (877)
382-4357.
"One easy step consumers can take to protect themselves right
away is to shred documents that contain information, like Social
Security numbers," said Dinham. "There's no such thing as 'too
careful,' when it comes to protecting your good credit."
For more information, visit www.namb.org.
