The Washington Post has a must-read article online today about credit bureaus sharing mortgage application data with competing lenders. Apparently, lenders nationwide can access data about people who have applied for a mortgage within the last 24-hours. These competing lenders can then contact you with an offer or alternative deal. The plus side is that you may receive a last minute offer that helps you negotiate a better deal with your lender. The downside is that your data might be shared without your permission.
Read the full article about credit bureaus and loan applications online here and then weigh in with your opinion in the comments section below. Do you think this policy is okay? Do you think you should be able to "opt-out" of the data sharing?