Applied for a Loan? Here’s Why You’re Getting So Many Calls

Let me guess…

You applied for a mortgage or started a refi and suddenly your phone is blowing up with calls from lenders you’ve never heard of. You’re thinking, “Did I accidentally post my info on Craigslist?”

Nope—you just got triggered.

Welcome to the wild world of trigger leads, where a simple credit pull turns into a full-on telemarketing storm. As someone who’s been in real estate and lending for over 20 years, I’ve seen this play out thousands of times. And trust me—you’re not the only one fed up with it.

Let’s break down why this happens, what’s being done about it, and how it affects investors, agents, mortgage pros, and most importantly—you.

What Are Trigger Leads?

Let’s keep it simple.

When you apply for a mortgage, your lender pulls your credit. That act—just pulling your credit—is enough to set off a digital flare to the big credit bureaus (Experian, Equifax, TransUnion). They see you’re shopping for a mortgage and instantly sell your information to other lenders.

Yep. They literally sell your data.

These are called trigger leads, and they tell other lenders:

“Hey, someone’s in the market right now. Go get ‘em.”

Those other lenders then start calling, texting, and emailing you like you’re the last house standing in a hot seller’s market.

Who’s Buying Your Info?

Lenders, mostly. Mortgage companies that buy these leads want to offer you a better rate or a faster closing to win your business before you commit to the original lender you applied with.

Back when I worked with lenders like Penny Mac, these leads were gold. You knew someone was serious about buying or refinancing, so you jumped in with your best offer and tried to win the deal before the other guy did.

Sounds smart, right?

Sure—if you’re the lender.

But from the borrower’s side? It’s annoying, overwhelming, and straight-up invasive.

Why Are Trigger Leads Legal?

This is the wild part—they’re 100% legal under current law.

The Fair Credit Reporting Act (FCRA) allows credit bureaus to sell your data to other companies, as long as those companies have a “permissible purpose” (like offering you a loan).

So basically, you never gave permission, but they found a loophole and now your phone won’t stop ringing.

What’s the Big Deal?

If you’re thinking, “Well, more offers mean better deals, right?”—not always.

Here’s why trigger leads can be dangerous:

1. No Borrower Consent

You never said, “Yes, please share my private data with a bunch of random companies.” But the bureaus sold it anyway.

2. Confusion and Misinformation

Buyers and refi clients suddenly start hearing different rates, different fees, different timelines—and they don’t know who to believe.

3. Increased Risk of Scams

Not every lender who calls is legit. Some are just fishing for your social security number, income, or other personal data.

4. Losing Trust in Your Lender

You trust your mortgage broker, but now you’re second-guessing because another lender claims they can “beat the deal” by $40 a month. Spoiler alert: many of these “better offers” fall apart once the real numbers come out.

What Is the Homebuyers Privacy Protection Act?

This is where the industry is finally saying enough is enough.

The Mortgage Bankers Association (MBA) is pushing Congress to pass the Homebuyers Privacy Protection Act—a bill designed to stop the madness.

This law would ban or strictly limit trigger leads.

If passed, it would:

• Prevent credit bureaus from selling your mortgage activity unless you give express written consent

• Allow data to be shared only with:

  • The original lender who pulled your credit

  • Companies you’ve already worked with

  • Lenders with a real existing relationship (like your bank)

That’s it. No more free-for-all.

Why It Matters to You (the Borrower)

This bill means you stay in control of who contacts you.

You choose the lender. You shop when you want. And you’re not overwhelmed with 17 offers that all sound too good to be true.

Imagine a world where you apply for a mortgage and… no one else calls you. Wild, right?

Why It Matters to Mortgage Pros

If you’re a mortgage broker or loan officer, trigger leads are frustrating in a whole different way.

You build trust with a client, pull credit, explain the process—and then someone else swoops in with a bait-and-switch offer. It’s bad for business and worse for the borrower.

The bill would protect your pipeline and reward lenders who are doing things the right way.

Why It Matters to Real Estate Investors

As someone who house hacked his way to 30+ properties, I know how important timing and trust are.

When you’re buying an investment property, every day counts. You don’t have time to deal with a dozen cold callers pitching half-baked financing options.

You want to work with a team that understands your goals, closes on time, and doesn’t flood your inbox with distractions.

This bill helps serious investors stay focused and in control.

Why Now?

This bill isn’t new—it’s been floating around for a few years. But now it’s gaining real momentum again in Congress, thanks to support from both sides of the aisle.

The Senate already passed it once. Now the focus is on the House.

With growing attention on data privacy and consumer rights, this could finally be the year we see change.

What You Can Do

If you’re reading this and nodding your head, here’s how to help:

1. Tell Your Clients

Let them know what trigger leads are and why they might start getting calls. This builds trust and positions you as the expert.

2. Use Disclosures

When pulling credit, let borrowers know that their info might be shared—and how you protect them from junk offers.

3. Support the Bill

Call or email your local representative and tell them to support the Homebuyers Privacy Protection Act.

4. Stay Educated

Keep an eye on this law and how it might affect lending practices, especially if you’re in real estate or finance.

My Take as a Veteran Investor

After managing over 300 properties and working with thousands of clients, I can say this: Trigger leads had their time—but that time is up.

They’re outdated, invasive, and they don’t serve the borrower. In fact, they often make things worse.

The Homebuyers Privacy Protection Act is about more than stopping spam—it’s about restoring trust in the system.

Let’s support it.

Special Thanks to Cody Bergstrom

Big thanks to Cody Bergstrom, our Acquisitions and Dispositions Manager at Graystone Investment Group, for raising awareness about this issue.

Cody is also a licensed Mortgage Loan Originator and a powerhouse in the real estate investment space. Over the past five years, he’s helped clients secure more than $100 million in funding and facilitated over $5 million in property sales just last year.

He’s got deep experience in off-market deals, investor lending, and creative funding strategies—and he’s here to help.

📞 Schedule a call with Cody: https://graystoneig.com/cody

Final Word

If you’ve ever wondered why your phone won’t stop ringing after applying for a mortgage, now you know: trigger leads. It’s a real thing. But change is on the way.

The Homebuyers Privacy Protection Act could be the shift we need to put control back in the hands of the borrower—where it belongs.

Keep it consistent, stay patient, stay true—if I did it, so can you!

Let me guide you at propertyprofitacademy.com

Written by Jorge Vazquez, CEO of Graystone Investment Group & its subsidiary companies and Coach at Property Profit Academy

Property Profit Academy:
✔ Learn to buy properties with little to no money down.
✔ Build a $10M portfolio step by step.
✔ Master strategies like BRRRR and house hacking.

Meet our Team of Experts!

My team and I bring over 20 years of real estate experience, with deep roots in Florida’s investment scene. As a licensed MLO, I’ve helped close millions in loans and investor acquisitions. We’ve built strong relationships with wholesalers, probate attorneys, and sellers to source real deals—not just listings. My goal is simple: align your investments with your vision and deliver results that exceed expectations. Connect with Cody at https://graystoneig.com/cody

Hi, I’m Lisa-Kaye Price, Real Estate Lending Specialist at Graystone Investment Group. With 20 years of experience as both a licensed Realtor® and Mortgage Loan Originator, I specialize in helping investors secure smart financing for powerful real estate moves. Let’s connect and talk strategy! Connect with Lisa at https://graystoneig.com/lisa-kaye-price

Jay Michalec is the COO of Graystone Investment Group and a proud U.S. Army veteran. With 25 years in hospitality, Jay brings leadership, service, and operational excellence to real estate. He’s known for keeping things running smoothly and supporting both the team and clients every step of the way. 📅 Connect with Jay: https://graystoneig.com/jay