This is a new legislative session so for those of you who have taken action already on previous Trigger Lead reform bills, we need your voice once again to send letters of support to the Hill. We've made incredible traction through our previous campaigns supporting the prior versions of this bill.
Trigger leads are the symptom of a larger problem. The problem is that credit bureaus are allowed to sell consumer data without their permission. This bill would stop that and protect homebuyers' privacy.
H.R. 2808 and S. 1467 prevents the abuse of Trigger Leads, but also makes important exceptions. The exception applies to the current mortgage servicer, the current mortgage originator, and the bank at which the consumer has an active banking relationship. This is important for originators, and vital for mortgage servicing companies. Without this carve-out, a total ban on Trigger Leads would drop the value of the mortgage as a commodity, a cost that would be passed to originators and our borrowers.
H.R. 2808 and S. 1467 is the best chance this industry has ever had to end the abuse of Trigger Leads; these new accommodations have united both consumer and industry groups together in mutual support of the strongest Trigger Lead reform bill ever introduced.
If you want to help put a stop to Trigger Lead abuse, please send the pre-generated letter of support on this page to tell your Congressional representatives to step up and co-sponsor this bill. It takes just a few clicks to help improve our industry!
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