MBA’s Bob Broeksmit Celebrates the Passage of the Homebuyers Privacy Protection Act of 2025
Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, released a video on Aug. 13 celebrating the passage of the Homebuyers Privacy Protection Act of 2025.
“For two years, MBA has been proud to lead the industry’s unified efforts to stop the growing plague of trigger lead abuses,” Broeksmit said. “Progress at times was slow, frustrating and filled with false starts and sudden stops. MBA never wavered, working night and day to get a bill introduced and advanced in the House and in the Senate. Even when final passage looked promising earlier this summer, I sounded like Yankees great Yogi Berra cautioning that it ain’t over till it’s over.”
Broeksmit noted the final out has been recorded, and consumers and lenders won. “Just before the Senate adjourned on August 2, the Homebuyers Privacy Protection Act of 2025 passed the Senate by unanimous consent. It was a remarkable step, given that the Senate was mired in partisan fights over appropriations and nominations.”
Broeksmit said MBA’s strong voice was heard leading to passage late on a Saturday night, with senators eager to leave Washington for their August recess. “Make no mistake, final passage by both the House earlier this year and now the Senate is a major victory for borrowers and will create a more efficient, responsible and respectful home-buying process for all buyers in the future.”
“Consumers will now be safe from the barrage of unwanted calls, texts and emails they too often receive the moment they apply for a mortgage,” Broeksmit said. “We couldn’t have done this without all of you who played a role in this victory, including MBA staff and the thousands of Mortgage Action Alliance members who participated in calls to action these last two years.”
“And to those of you who came to D.C. for our National Advocacy Conference and took our message directly to congressional offices, thank you. Your voices mattered!”
“A big shout-out is also due to our Trigger Leads Reform champions, Senators Bill Hagerty of Tennessee and Jack Reed of Rhode Island and Congressman John Rose of Tennessee and Ritchie Torres of New York for helping to steer this bill across the finish line.”
“This proposal would never have emerged if not for the inspirational leadership of past RESBOG chair, the late Chrissi Rhea [Co-Founder of Mortgage Investors Group, Knoxville, Tenn.]. Chrissi prompted and led MBA’s internal policy discussions that made ending abusive trigger leads a top MBA priority during the last Congress. This one is for you, Chrissi. We thank you and miss you every day.”
“MBA looks forward to President Trump signing the bill into law very soon. Once enacted, the six-month clock toward the effective date will start. We will work with the CFPB and other agencies on any rule making or guidance that may be needed to assist with this implementation,” Broeksmit added.
Broeksmit also mentioned MBA’s next virtual town hall will happen on Thursday, Aug. 21 at 3:30 PM ET. “Even though Congress is in its traditional August recess, there’s still a lot going on in Washington during these dog days of summer, and I’m sure more will come up between now and then,” he said. “Register now at MBA.org/webinars.”
