Trigger Leads HFSC Markup Planned for June 10; MBA Sends Letter to Lawmakers
A slightly amended version of the Homebuyers Privacy Protection Act of 2025 (H.R. 2808), as principally sponsored by Representatives John Rose (R-TN) and Ritchie Torres (D-NY), will be considered during a full House Financial Services Committee (HFSC) “markup.”
• This important legislation, if passed, would eliminate the abusive use of mortgage credit trigger leads while preserving their deployment in appropriately limited circumstances.
MBA sent a letter to leadership of the committee, urging an “aye” vote as long as no other changes to the current version are introduced. See the full letter below:
The latest on the issue: Six months after the enactment of this proposal, trigger leads would be permissible under the Fair Credit Reporting Act only in limited circumstances during a real estate transaction and only to provide a firm offer of credit. A credit reporting agency (“CRA”) would not be able to furnish a trigger lead to a third party unless the third party has certified to the CRA that either: the consumer explicitly consents to such solicitations; the third party has originated the current residential mortgage loan of the consumer; the third party is the servicer of the current residential mortgage loan of the consumer; or the third party is an insured depository institution or insured credit union and holds a current account for the consumer. Importantly, the bill retains its core framework and key provisions, but the amended H.R. 2808 being considered tomorrow includes language authorizing a study (after the bill’s enactment) on text messaging by Congress’s investigative arm, the General Accountability Office (GAO).
Why it matters: Thanks to MBA members’ persistent advocacy, an increasing number of lawmakers have been informed of the harm to consumers from trigger leads abuses from dozens of personal anecdotes, Mortgage Action Alliance (MAA) call to actions, and in-person meetings during the National Advocacy Conference this past April. Advancing the bill is in direct response to those efforts!
What’s next: Reps. Rose and Torres have garnered 81 total bipartisan cosponsors for their bill, including 34 that serve on the HFSC. MBA needs you to continue these efforts by reaching out to any HFSC member from your state that has a chance to vote on the amended H.R. 2808 . A strong committee vote on the bill will accelerate the bill’s chances of being considered quickly on the floor of the full U.S. House.
ACT NOW: MAA members – contact your U.S. Representative serving on the HFSC and urge him/her to vote “AYE” when the bill is considered during tomorrow’s markup!
For more information, please contact Rachel Kelley at (202) 557-2816 and/or Madisyn Rhone at (202) 557-2741.
