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Hello Danijella,
At The Lending Corporation, your privacy is our top priority. We’re excited to share that on June 12, 2025, the U.S. Senate unanimously approved the Homebuyers Privacy Protection Act (S. 1467)—bringing federal restrictions on mortgage “trigger leads” one step closer to becoming law.
What Are Trigger Leads?
When you apply for a mortgage, credit bureaus can sell your inquiry data to competing lenders—resulting in a flood of unsolicited calls, texts, and emails. This practice not only confuses homebuyers but also erodes your trust in the mortgage process.
Key Benefits of the New Legislation:
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Opt-In Only: Credit bureaus may only share your data with lenders you’ve expressly authorized.
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Stronger FAA Protections: Amendments to the Fair Credit Reporting Act will sharply limit abusive marketing tactics.
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Bipartisan Support: Backed by the Mortgage Bankers Association, National Association of Mortgage Brokers, American Bankers Association, and 42 state attorneys general.
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House Action Next: A companion bill (H.R. 2808) just cleared the House Financial Services Committee 46-0 and now moves to the full House for a vote.
Why It Matters to You:
- No more surprise calls from unknown lenders.
- A cleaner, more transparent homebuying experience.
- Peace of mind knowing only your chosen lender can reach out.
🛡️ What You Can Do:
Contact your representative and ask them to support a swift reconciliation and final passage of this bill. Every voice counts!
Thank you for trusting The Lending Corporation with your homebuying journey. If you have questions about how these changes affect you, reply to this email or call us at 949-400-5779.
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