Homebuyers Privacy Protection Act protects consumers against unwanted calls and messages

The Homebuyers Privacy Protection Act (H.R. 2808) has been approved by the Senate and is heading to the President’s desk to be signed into law. The bipartisan bill, which passed the Senate by unanimous consent, is designed to protect consumers from unwanted calls and messages that result from “trigger leads.”

Trigger leads are generated when credit reporting agencies sell a prospective homebuyer’s contact information to third-party mortgage brokers and lenders after a credit check is performed. The legislation is supported by various industry groups, including the Broker Action Coalition (BAC), the Mortgage Bankers Association (MBA), the Community Home Lenders of America (CHLA), and the National Association of Mortgage Brokers (NAMB). These groups all celebrated the bill’s passage as a significant victory for consumer data privacy and the mortgage industry. After President Trump signs it, the bill will go into effect in six months.