The changes, which were thwarted at the end of 2024 despite passage through the Senate, would prohibit credit reporting agencies from marketing and selling trigger leads unless the consumer provides explicit permission.
And Saunders – along with NAMB, a key mortgage industry advocate for trigger lead reform – said initial signs are good for the legislation’s progress this year.
“This is now the fourth congressional session that we’ve been working on having trigger lead legislation introduced and based off the feedback that we received in Washington DC as part of our legislative conference, it seems that this is definitely a priority for House Financial Services and obviously for the bill sponsors,” she said. “So it does seem like it has a much greater chance of getting through committee and potentially coming up for a vote in the House.”
Clamor for trigger lead reform has only strengthened among the mortgage community in the past year, particularly after credit bureaus staged a frantic last-gasp bid in 2024 to stymy the original legislative proposals – and as those bureaus gear up for a further scrap ahead.
Passage of the bill as it stands would be a positive step for mortgage shoppers and industry members alike, according to Saunders. “We’re happy with where it is at the moment,” she said. “The number-one priority is for consumers to have control of their financial information and for them to be able to ultimately, definitively say, ‘Yes, I agree to have my information sold.’ That’s the most important thing.”