Team Relocations Joins SIRVA

  1. SIRVA
  2. Company
  3. Team Relocations Joins SIRVA
  4. Trigger Leads: What Are They and How Do They Affect Your Transferees?

Team Relocations Is Now SIRVA Worldwide Relocation & Moving!

SIRVA as a global leader in moving and relocation services offers unmatched global breadth and innovative technology, complementing Team Relocations' longstanding reputation for high quality moving and relocation solutions to some of the world's leading multinational organizations.

Our resources combine the unique talents and expertise of leaders across a broad scope of mobility-related services. This synthesis is a key part of our commitment to provide our clients and their employees with the best moving and relocation experience possible.

By combining Team Relocations with SIRVA, we offer 75 office locations worldwide with over 2,900 employees operating in 180+ countries. Customers benefit from our:

  • End to End Service Delivery Model from departure to destination. We will help you with everything including visa and immigration, employee counseling and VIP services. Our relocation specialists are here to help. 
  • Client Advisory Services. We will work with you, according to your specific needs, to achieve more efficient and high-quality relocations. SIRVA offers a multitude of client financial services, from lump sum to expense management, which are designed to help ease the financial burden of relocating your employees. We can assist in compensation and payroll administrations, vendor management, intern management programs, group move management, and management reporting. 
  • Home and Mortgage Services. From home finding to tenancy management, we can help ease the process of moving and help relocating employees have one less thing to worry about.
  • Moving Services. We can help you and your employees get to where they need to be. Whether moving to a new house, a new office or trying to relocate a pet, we have the resources to help make the process go as smoothly as possible for your employees. 
  • Technology Solutions. Our innovative and flexible technology solutions have been developed you and your employees in mind: easy-to-use, intuitive and helps to save time and resources, whilst enhancing reporting capabilities. We continue to invest in order to improve the relocation process for both mobility teams and relocating employees. 

 

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Trigger Leads: What Are They and How Do They Affect Your Transferees?

  • by Daina Mueller
  • Thursday, February 29, 2024 9:51:00 AM

Shopping for a mortgage and getting pre-approved by a lender is a standard process for relocating employees who wish to purchase a home in the U.S. Many of these employees, however, will notice that after they apply for a mortgage, they suddenly receive phone calls, emails, and mail from multiple lenders with unsolicited offers for mortgage services. It is important to know that the employee’s information was NOT sold by the lender. What has happened, however, is the credit bureaus have sold a “trigger lead.”

What Are Trigger Leads?

Trigger leads are a product offered by all three reporting agencies - Equifax, Experion, and TransUnion. When the employee completes a loan application, the lender pulls their credit. Whenever credit is pulled, the action triggers an inquiry. This inquiry is then sold to other lenders as “leads,” which are notices to other mortgage lenders that a consumer is seeking a mortgage loan. These leads contain names, contact information, and other data of consumers who apply for a mortgage.

Mortgage trigger leads are legal under the Fair Credit Report Act. The Federal Trade Commission’s (FTC) stance is that they are beneficial for consumers because they allow the consumer to obtain multiple offers to make sure they are receiving the best deal on a mortgage. They can, however, cause the employee to feel like they are being spammed and bombarded with unsolicited telemarketing calls. Trigger leads can also open the door to identity theft, fraud, and predatory lending. And many times, the lenders try to confuse the consumer by making it look like they are affiliated with their current lender.

What Can You Do to Help Protect Your Relocating Employees?

Employers should partner with a trusted lender as part of their relocation policy. By working with a preferred lender, employers can feel confident that their employees are working with a reputable mortgage lender who does not share or sell their information. Although a lender cannot prevent the credit bureaus from sharing leads, they can advise the relocating employee of the practice and provide guidance on how to navigate various offers.

What Can Employees Do to Prevent This?

For employees who are not interested in these offers, it’s best to just ignore them. There are a few options that can help reduce future unsolicited offers:

  • Register for Do Not Call: The National Do Not Call Registry is free and can help limit telemarketing calls. Visit donotcall.gov or call 1-888-382-1222 from the phone number you wish to register. A number stays on the registry for five years, until it is disconnected, or until you take it off the registry. In can take up to 31 days for calls to stop.
  • Opt out of prescreened offers: To opt out of prescreened offers, the employee can call 1-888-5-OPTOUT (1-888-567-8688) or visit optoutprescreen.com. When the employee calls or visits the website, they will be asked to provide personal information, including phone number, name, Social Security number, and date of birth. The information provided is confidential and will be used only to process the request to opt out. The request to opt out will be processed within five days, but it may take up to 60 days to stop receiving these offers.

It’s important to note that opting out of prescreened offers does not affect the employee’s ability to apply for or obtain credit. If, or when, they want to opt back in, they can use the same telephone number or website.

While taking these steps will limit the unsolicited marketing employees receive, many companies use other tools to identify marketing prospects. Even if the employee opts out of prescreened offers and puts their number on the National Do Not Call Registry, they should still expect some unsolicited offers.

If you would like to learn more, the Federal Trade Commission (FTC) has resources that can help:

  • More information on prescreened offers? Read here
  • Want to learn more about your credit report and when creditors can access it? Read here
  • How can I stop receiving junk mail? Read here

Whatever the financing needs of your transferees may be, SIRVA Mortgage is here to help. With over 30 years of focus and expertise in relocation mortgage lending, we understand the important role home financing plays in the relocation process. Please visit our mortgage website to learn more or contact us at MortgageClientServices@sirva.com.

 

SIRVA Mortgage, Inc. (NMLS Unique Identifier# 2240) is engaged in the business of originating residential mortgage loans. We are licensed or authorized to conduct mortgage loan origination in all 50 states plus the District of Columbia.  SIRVA Mortgage is not a depository institution and does not act as or represent itself a full service bank.  Reference to the term “mortgage banker” is a common, accepted industry term referring to companies engaged only in the business of making mortgage loans.  Various state laws and regulations and our individual license in various states refer to us as a mortgage lender, mortgage banker or mortgage broker. For our Privacy Policy and Affiliated business relationships please visit https://mortgage.sirva.com/about/about-sirva-mortgage. Call 800-531-3837 for more information. SIRVA Mortgage, Inc. is licensed by (among others): Arizona Licensed Mortgage Banker, License #BK-901430; Licensed by the  Department Corporations under the California Residential Mortgage Lending Act, Lender License #413-0944; Georgia Residential Mortgage Licensee #6221; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company, License # SL.0000368; Massachusetts Mortgage Lender, License #ML1341; Licensed by the Mississippi Department of Banking and Consumer Finance, Mississippi Licensed Mortgage Company #369/2009; Missouri Residential Mortgage Licensee; Montana Mortgage Lender License #39706, Licensed by the New Hampshire Banking Department; Licensed by the New Jersey Department of Banking and Insurance; New York Licensed Mortgage Banker by the N.Y. State Banking Department; Ohio Mortgage Broker License #MB.803887.000; Licensed by the Pennsylvania Department of Banking; Rhode Island Licensed Lender; Texas Mortgage Lender, License # 44605; Licensed as a Mortgage Lender by the Virginia State Corporation Commission, license #MC-310. This is not an offer of credit or an offer to enter an interest rate lock-in agreement nor is this notice of loan approval. Main Office of SIRVA Mortgage, Inc.; 6200 Oak Tree Blvd., Ste 300, Independence, OH  44131; Telephone: 1-800-531-3837.