Is Your Privacy Being Invaded By Lenders?

Peter Coy

When you apply for a mortgage, or even quietly ask for a rate quote, don't be surprised if that sensitive information almost immediately gets into the hands of other lenders, who will bombard you with competing offers. As explained in a well-done article in The Mercury News of San Jose, these other lenders can find out credit scores, open mortgage balances, loan-to-value ratios, monthly mortgage payments, revolving debt balances, plus other personal financial data about you.

Where does this information come from? The big credit bureaus, of course. It's collected and sold to lenders by companies including Mortgage Inquiry Data of Coral Springs, Fla. to visit the company's website, where a female cartoon with a posh British accent will give the pitch. Thanks to for pointing this out.

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