Home loan applicant treats - Las Vegas mortgage borrowers beware

When a consumer fills out a mortgage application to purchase a home, or do a refinance, it means that obtaining his credit report will follow. It's part of the process and readily accepted. Something else may also happen, though, that can cause bewilderment in the home loan applicant, maybe even anger of various decibels.

This action actually permits credit bureaus - Equifax, Experian, Innovis and TransUnion - to peddle the mortgage borrower's information to third party vendors, among which can be other home loan providers. The phone at the consumer's pad can start ringing with unwanted solicitations that probably were not penciled in on his calendar. If so, the mortgage broker who took the original application likely will receive heated questions about it, giving his otherwise ordinary day a new twist. Sometimes a brief, to-the-point explanation will suffice, sometimes the matter will spiral in a new, unwanted direction from which recovery can take time.

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