New Scam Target: Mortgage Customers

Recently, a member took out a home equity line of credit with KaiPerm. A few days after the loan was complete, our member was solicited for a low cost mortgage free home protection program. A postcard came addressed to him using the name KaiPerm Northwest FCU. The member thought it came from KaiPerm. The member became concerned that we were possibly selling his information. The loan officer reassured him that KaiPerm never sells member information to any other company. Our loan officer let the member know that this type of information is public and that any company can obtain this information and use it to solicit business for their own products. The information was gathered by a third party from county records which are open to the public. The Deed of Trust for his loan is recorded with the county.

Watch out for solicitations, especially involving your real estate. Unscrupulous lenders will promise low rate/no fee products then "switch" you to a high interest rate real estate loan.

Click here to see an example of the postcard used in this case.