How normal is this?

[Anonymous]

I have been looking at mortgage options for the home that I currently live in and have gone to a few different companies. Out of the blue, I get calls from SallieMae/Quicken Loans saying, "we saw you had your credit pulled by a mortgage lender, we would like to be that lender." I had to laugh. I was a bit flabbergasted by the blatant nature of the call, but amused at the same time. Is it normal for them to be checking on stuff like that?

[Creditaddict]

in todays market... the companies are finding new ways of finding new mortgages!

Quicken Loans actually has a very good track record for mortgages too and can offer some great rates... they have a VERY quick processing too, usually 15 min and once they say approved you can close in less than 15 days usually.

[ShanetheMortgageMan]

It's called a "trigger lead".  A trigger lead is generated every time a credit report is run. As soon as the credit report is run by Equifax, TransUnion, and Experian, it "trigger" their lead system and they, just about instantaneously, SELL your information. It is a shady business practice but it's completely legal.  To opt out of these trigger leads you can go to https://www.optoutprescreen.com/   Nothing is wrong with Quicken Loans, they seem to be a decent company... however the bottom line is you must compare your options, do not go for the first lender who offers you a loan, get good faith estimates from 3-4 different sources, and have thougrough conversations with each, before committing to one.