House and Senate Vote “Yes” to Trigger Leads Crackdown – Mortgage Companies Should Be Watching
Both houses of Congress have now passed the Homebuyers Privacy Protection Act aiming to thwart the rampant use of trigger leads in the residential mortgage industry that has long frustrated mortgage lenders and borrowers alike. On June 23, 2025, following the U.S. Senate’s passage of S. 1467 earlier this month, the House of Representatives voted to approve its companion bill, H.R. 2808. The legislation will not go directly to the President’s desk, however, as there are minor differences between the bills that Congress must resolve first.
Although several steps remain before the Homebuyers Privacy Protection Act becomes law, its momentum in Congress suggests that trigger lead sales are soon to become a thing of the past, except in narrow circumstances.
Recap – What is the Homebuyers Privacy Protection Act and Why Does it Matter?
As we noted in last week’s update (here), the Homebuyers Privacy Protection Act is designed to amend the Fair Credit Reporting Act (FCRA) to prohibit the sale of trigger leads unless:
1. The request is tied to a firm offer of credit insurance, and
2. The requesting entity has either explicit consumer authorization or an existing relationship with the consumer as their mortgage loan originator, mortgage servicer, or deposit account holder.
If enacted, the law would reshape the lead-generation game, particularly for independent mortgage banking companies who rely on trigger leads for borrower acquisition. It may also inspire similar legislation by the states (some states have already introduced or enacted their own laws restricting trigger leads).
Note, however, the legislation gives a possible advantage to depositories and credit unions to the extent they want to use trigger leads for residential mortgage business.
What’s Next for the Legislation?
With both chambers having passed their versions of the Homebuyers Privacy Protection Act, the next step is a conference committee to reconcile minor differences; most notably, the House bill (H.R. 2808) includes a provision for a GAO study not found in the Senate version (S. 1467). Once aligned, the final bill will return to both chambers for approval before heading to the President. If signed into law, it will take effect approximately 180 days later, likely in early 2026. Given the strong bipartisan support and recent momentum, this process is expected to move quickly.
What to Watch
Mortgage executives should be closely monitoring the progress of the Homebuyers Privacy Protection Act as it moves through these final stages of becoming law.
Now is the time for compliance, legal, and marketing teams to evaluate how this legislation could impact lead generation and begin preparing accordingly.
Read the House bill here.
Need Help Preparing?
For help assessing your current strategies and preparing for the coming changes, contact Troy Garris at troy@garrishorn.com.