Do Not Call List

When it comes to do-not-call laws, be safe not sorry.

At the same time that good leads are getting scarcer, the newest issue for mortgage originators is the Federal Trade Commission (FTC) “do-not-call” list. Can you call the leads that you are getting? According to the recently passed federal laws, if a person is on a “do-not-call” registry and you do not have an existing business relationship, nor their express written permission for you to call them, you could face a fine if they are on the list. Although the aggregator receives authorization from the borrower to contact them and passes it on to you, the problem is that the aggregators aren't the ones the government is going to go after if the borrower was on a do-not call registry: You called the borrower against his wishes, not the aggregator. The point to remember in this is that the laws are very new, so new that in fact these do-not-call issues, as well as many others, are still untested. Untested is not good because it means there really is no assurance that you as the purchaser of a lead, from any source, are indemnified. Reputable aggregators offer generous return policies, but in fact, no one can offer a guarantee that someone not on the do-not-call list today won't be tomorrow. So in these uncertain times, the only prudent thing to do is to check for yourself whether or not the lead you just bought is on a state or federal do-not-call registry before picking up the phone. In addition, you should have a plan for insuring that all the sales calls you and your colleagues are making, regardless of the source, are in compliance with both the state and federal guidelines. And the best way to do this is by working with a reputable company that will not only screen all of the phone numbers you call but also provide you with safe numbers, and obtaining and dutifully checking the do-not-call registry yourself. Because when it comes to these do-not-call laws, you are really the only responsible party in the end. Story: Ed Rooney for Live With a Net