After applying for, or closing, a loan with Tri City National Bank, you may receive calls or letters from other lenders or loan-related companies, like a mortgage insurance service. For many new home buyers, the amount of these communications can become overwhelming and downright annoying. Rest assured, Tri City does not sell your information to any third party or share your information with nonaffiliates. You are welcome to read our full Privacy Policy at any time.
So, how is your information shared?
As all financial institutions do, we work with the major credit bureaus to request your credit score and credit report as part of the loan application process. From there, third parties looking for mortgage customers then acquire your information from the credit bureaus and contact you in an attempt to do business. Prescreening doesn’t hurt your credit score. There will be "inquiries" on your credit report showing which companies got your information for prescreening, but those inquiries won’t hurt your credit.
How to opt-out
While aggravating, these practices are legal under the Fair Credit Reporting Act. However, you do have the option to opt-out of receiving such communication by visiting optoutprescreen.com or calling 888-5-OPTOUT (888.567.8688). You will be given the choice of opting out permanently or for a period of five years. Know that you will need to provide certain personal information when completing your opt-out. If you have a joint credit relationship with a partner, spouse, additional borrowers or co-signers, all will need to opt-out to stop all such communication. Requests are typically processed within five days, but it may take several weeks before you stop receiving prescreened offers.
Opting out will not stop all unsolicited offers of credit and insurance
Calling the opt-out line or visiting the site will stop only prescreened offers that are based on lists from the major credit bureaus. You may keep getting offers for credit and insurance based on lists from other sources. Opting out also won't end mail from local merchants, religious groups, charities, professional and alumni associations, and companies that you already do business with. To stop mail from groups like these — as well as mail addressed to "occupant" or "resident" — contact each source directly.
Use of public records
Mortgages are typically recorded, or filed, with the register of deeds in the county of the property. This filing is a public record that you cannot limit. Some companies may use that information to solicit you for products or services.
As your hometown bank, we value our personal relationships with each customer. We share your information only in accordance with our publicly posted Privacy Policy, and we offer you the opportunity to limit that sharing in accordance with Federal Law.
Should you have any additional questions, please contact your hometown lender, who is always happy to help.
Member FDIC.