In this month’s Farm Credit Corner, we interview Emily Helman, AgChoice customer service specialist, to learn about unsolicited mail following a loan closure.
Why do customers experience an uptick in unsolicited mail and calls following a loan closing or refinance?
Let me start by saying that AgChoice does not sell or distribute borrowers’ information. However, many companies such as those offering home warranties, refinances or mortgage protection insurance, will find information from public records or buy information from one of the credit reporting bureaus to create their own marketing lists for their products and services.
When a deed is recorded, your name, your lender’s name, your loan amount and number and your property address are all public record. Anyone can see the information, so individual businesses may collect your information and use it in their next marketing campaign. There also are direct marketing companies that scan the data and sell lists to other businesses looking for ways to expand their client base.
That’s why you might see reference to your lender on the junk mail, but it’s not from your lender, nor is a product or service that your lender recommends.
What should a person do if they are unsure about the legitimacy of a piece of mail?
I recommend that you review each piece mail you receive. I know we all receive…
