Brokers celebrate
The National Association of Mortgage Brokers (NAMB), one of the bill’s earliest advocates, called the House’s action a ‘major victory’ for both mortgage professionals and consumers.
“NAMB has long advocated for an end to the abusive practice of trigger leads, which undermines consumer privacy and trust,” NAMB president Jim Nabors said in a statement. “We applaud lawmakers for taking decisive action to protect homebuyers. This legislation ensures a fairer, more respectful, and less intrusive mortgage experience for Americans.
Trigger leads have long frustrated both mortgage originators and borrowers, as they often result in a flood of unsolicited offers that confuse consumers and disrupt trusted lending relationships.
“This is a win not just for our industry,” Nabors added, “but for every American seeking the dream of homeownership without the fear of their personal information being exploited.”