Supporting the Homebuyers’ Privacy Protection Act S.3502 Can Help End Trigger Leads
As a Connecticut-based mortgage professional, John Burke and the entire Burke Mortgage team are committed to championing the cause of consumer privacy. Your advocacy will contribute to the collective effort to end the practice of unsolicited trigger leads, safeguarding the privacy of consumers and fostering a more transparent and consumer-friendly mortgage marketplace.
Why S.3502 Matters: Ending Unwanted Trigger Leads
Urgent Advocacy Needed
The Homebuyers’ Privacy Protection Act aims to put an end to the detrimental practice of trigger leads, a concern that affects consumers and disrupts the mortgage marketplace. Trigger leads occur when a consumer applies for a mortgage, and the inquiry triggers a notification to credit bureaus, who then sell this information to data brokers without the consumer’s consent.
This leads to an onslaught of unsolicited calls attempting to divert consumers from their chosen lenders, causing confusion and frustration. Senator Hagerty and Senator Reed’s proposed legislation seeks to rectify this issue, providing consumers with more control over their information during the homebuying process.
What S.3502 Proposes: Empowering Consumers
The proposed bill prohibits consumer reporting agencies from furnishing trigger leads unless the third party certifies a current relationship with the consumer. This ensures that consumers have greater control over the information shared during the homebuying process, eliminating trigger lead abuses while allowing for their appropriate use in limited circumstances.
How You Can Make a Difference: Take Action Now!
Your support is crucial in advocating for the Homebuyers’ Privacy Protection Act (S.3502). By reaching out to your Senators, you can urge them to co-sponsor this essential legislation.
Simply click “Take Action” and scroll down to make your voice heard.
Thank you for standing with us in this critical advocacy effort.
Sincerely,
John Burke of Burke Mortgage