Industry figures hail a 'major victory' for mortgage borrowers
President Trump signed legislation to curb the abuse of trigger leads into law Friday afternoon, making it illegal for credit bureaus to sell customers’ data without their consent and bringing a successful close to a lengthy mortgage industry campaign against the practice.
The Homebuyers Privacy Protection Act, which will outlaw most trigger leads beginning March 5, 2026, cleared both the House and Senate floors in June, with Trump’s signature today marking the final step in its passage.
Trigger leads occur when credit bureaus sell a borrower’s information immediately after a mortgage credit inquiry. The law means credit offers can only be made if the consumer has provided explicit consent or if the offer comes from their current mortgage originator, servicer, bank, or credit union.
Efforts to crack down on the practice had gathered pace in recent years, with a joint mortgage industry effort spearheaded by prominent groups and associations including the Mortgage Bankers Association (MBA), National Association of Mortgage Brokers (NAMB), and Broker Action Coalition (BAC).
In a LinkedIn post, Brendan McKay, BAC’s chief advocacy officer and a prominent figure in the campaign to eradicate the practice, hailed the news as a testament to the industry’s resilience and unity on the issue.
“This legislation proves what can happen when Mortgage Brokers come together to solve a problem instead of just debating it,” McKay wrote. “It shows what’s possible when organizations set aside differences and collaborate on a common goal.
“And it demonstrates that, at least sometimes, consumer interests can still win out over corporation profits in DC, and there just might still be reason for hope after all.”
MBA president and chief executive officer Bob Broeksmit described the law as a “major victory” for mortgage borrowers, one that “will protect them from the barrage of unwanted calls, texts, and emails they too often received immediately after applying for a mortgage.”
Upon passage of the bill through the House in late June, NAMB president Jim Nabors said the law “ensures a fairer, more respectful, and less intrusive mortgage experience for Americans” and described it as “a win not just for our industry, but for every American seeking the dream of homeownership without the fear of their personal information being exploited.”
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