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Trigger Leads Bill Headed to President’s Desk

Trigger Leads Bill Headed to President’s Desk

On Saturday, August 2, the Senate passed H.R. 2808, the Homebuyers Privacy Protection Act, which will put an end to the sale of trigger leads.

What’s next: The bill passed the House in June and now awaits the President’s signature.

Go deeper: According to information published by the bill’s co-sponsor, Senator Jack Reed (D-RI):

  • This bill will go into effect six months after it is signed into law.
  • It will prohibit credit reporting bureaus from selling a trigger lead unless a mortgage broker or lender certifies to the bureau that they already have a deep financial relationship with the consumer, such as an existing mortgage loan or a deposit account.
  • Trigger leads would also be permitted if a consumer affirmatively opts in to receiving them.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.