What They Are and Why They’re a Problem

Wow, what a game last night! I hope you are having a great week so far, and in this politically correct world, I am going to go out on a limb and say Go Dodgers!!  

I wanted to touch on Trigger Leads this AM and explain what is going on in that world! If your buyers apply for a mortgage and suddenly start getting flooded with calls, texts, and emails from other lenders, they’ve just been hit with trigger leads.

Here's what’s really happening: when we do a hard credit pull for a loan application, which is usually when a buyer goes into escrow, the credit bureaus (not us) sell that information to other lenders who buy "fresh mortgage leads.” They see someone shopping for a home loan and start aggressively marketing and sometimes even pretending to be us to confuse borrowers.

When we do a soft credit pull for pre-approvals, this doesn’t happen. That’s why we use soft pulls whenever possible until the buyer is ready to move forward. But once we have to run the full credit check, those "trigger leads" can start rolling in.

We’re hearing more and more complaints from buyers who feel frustrated and overwhelmed, and we understand entirely.

The Good News

Congress has passed a bipartisan bill to ban abusive trigger leads, and the President has already signed it into law. The change takes effect in March 2026, when credit bureaus will no longer be allowed to sell this private data to random lenders.

Until then, we’re doing everything possible to protect clients’ privacy and make sure they understand what’s happening, because we never sell or share client information.

How Buyers Can Opt Out

While house hunting, buyers can reduce or stop these unwanted calls by opting out of pre-screened credit offers. Here's how:

Visit www.OptOutPrescreen.com – the official consumer credit opt-out site.

Choose the "Opt Out for 5 Years" option (or mail in the permanent form).

Buyers can also call 1-888-5-OPT-OUT (1-888-567-8688) to complete the process by phone.

Doing this before the hard credit pull helps cut down the flood of solicitations when they start applying for loans.

Bottom Line

Trigger leads are an industry problem, not a lender problem.

At Augusta Financial, we believe in transparency, client care, and protecting your buyers from unnecessary noise.

If your clients get bombarded with calls, remind them:

• It’s not you.
• It’s not us.
• It’s the credit bureaus, and thankfully, that’s going to change.

Please let me know if you have any questions or if a client needs my guidance. I’m just a call, text, or email away.

📞 Direct Line: 661-291-2222 – Text OK

📞 Cell: 661-714-6258 – Text OK

📞 Office: 661-260-2970 ext. 2222 – Text OK

📧 Email: Mike@AugustaFinancial.com

But wait, there’s more…

Interest Rates

Rates are getting better by the week, and we are currently at the best level since September of 22 and 23, which is similar to September of 2024 and September of 2025. October 25 is a bit better than those other years, but nothing to write home about! Fed should be cutting rates this week, and that will do absolutely nothing to interest rates!  

Loan Programs

• We do loans on Non-warrantable condos!  
• We offer 12-day escrows for pre-approved buyers, including conventional FHA/Jumbo/Bridge loans.
• We provide loans in all 50 states, so call me with anything you need.
• Government loans (FHA/VA/USDA) are in the 5s.
• Conventional loans up to $806,500 are in the high 5’s and low 6s.
• High-balance loans from $806,501 to $1,209,750 are also in the 6s.
• Jumbo loans above $1,209,750 are in the 6’s.
• ARMS in the 5’s and some in the 6’s
• Bank statement loans are available with 10% down again, with larger down payments in the 6’s++.
• Profit and Loss Statement loans require 20% down - no bank statements needed, only a profit and loss statement!
• 0 down loans are available in the high 6s, with a minimum credit score of 620, up to $1,300,000.
• Private Money lenders offer Hard Money Loans with 35% down.
• No-Ratio Loans require a 30% down payment.
• DSCR (Debt Service Coverage Ratio) loans are available with as little as 15% down.
• Bridge Loans typically have an interest rate of 7.99% with limited fees, helping you get where you need to go!
• 3/2/1 Buydowns, 2/1 Buydowns, and 1/0 Buydowns are available at great starting rates!

Please note that interest rates are subject to change without notice, and the information above reflects LA County Loan Limits.

**Good News for Condos:**   

NONE

**Bad News for Condos***     

Nothing New!  

CONDO HELP!!!

If you have a listing or a buyer interested in a specific condo and are unsure whether it is warrantable or non-warrantable, please call me, and we can look up Fannie’s list in real-time. We don’t know when something has changed, and it would be impossible to track everything day by day, but we don’t mind looking up a few items each day.  

The full state of California’s naughty list has been added to: MikeMeena.com! See the link below:

https://mikemeena.com/non-warrantable-condos/

Let me know if you hear anything new about condos or townhouses.

I am available every day if you need anything.    

📞 Direct Line: 661-291-2222 – Text OK

📞 Cell: 661-714-6258 – Text OK

📞 Office: 661-260-2970 ext. 2222 – Text OK

📧 Email: Mike@AugustaFinancial.com

Have a great day and an even better tomorrow! Please call me when you have a client who needs to borrow!