If a mortgage broker decides to use telemarketing to establish leads for loan origination, what must be done?

When a mortgage broker uses telemarketing as a strategy to generate leads for loan origination, it is essential to comply with the Do-Not-Call (DNC) regulations established by the Federal Trade Commission (FTC). These regulations are part of the Telephone Consumer Protection Act (TCPA) and serve to protect consumers from unwanted solicitation calls.

Therefore, obtaining access to the Do-Not-Call Registry is essential. This registry allows the mortgage broker to ensure they do not contact individuals who have opted out of receiving telemarketing calls, thus avoiding potential legal issues and penalties that could arise from calling those on the list. Compliance with these regulations helps maintain ethical standards in marketing practices and fosters a respectful relationship with potential customers.

While investing in a predictive dialer, calling current customers, or contacting former customers for referrals may seem beneficial strategies, they do not address the critical requirement of compliance with telemarketing laws, particularly regarding the DNC registry. Being proactive by obtaining access to this registry is the most pertinent action to take in this scenario.