Does Sarma Sell Consumer Information as Leads?

It appears that Sarma sells consumer information as leads. Is that true? The answer is No. The explanation as to why you may think so will take  a moment to explain.

Neither Sarma nor DU/LP sells leads.  The credit bureaus, however, sell what is called "Trigger Leads".  A company can pay to be notified any time a mortgage credit report is pulled in certain zip codes.  The mortgage company then calls the consumer and says something like "we see you are trying to get a mortgage...well we can save you a lot of money!", or something along those lines. 

There has been many groups, such as the Mortgage Brokers Associations that have tried to force the bureaus to stop this practice, but no one has been successful. 

The only recourse your loan officers have is to educate your borrowers that when a mortgage credit report is pulled, other mortgage companies could be notified by the bureau that they are inquiring about a mortgage loan, and these companies may call, but the mortgage company has very little information about them and not to give them information and the person calling really does not know if they can be of service or save them money. 

The second option is to put your borrowers on the "do not call" list before pulling credit, but then you have to wait several days to pull credit for it to be effective.

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