Trigger leads ban clears hurdle in Senate

The Senate on Thursday unanimously passed bipartisan legislation to rein in trigger leads.

That follows the House Financial Services Committee’s unanimous approval of  the Homebuyers Privacy Protection Act, an amendment to the Fair Credit Reporting Act, earlier in the week.

The mortgage industry now awaits as lawmakers work to reconcile minor differences between the House and Senate versions of the bill before a final vote and a potential signing by President Donald Trump.

Bob Broeksmit, CEO of the Mortgage Bankers Association, applauded the momentum building around getting the bill passed. 

“We commend Senators Jack Reed (D-RI) and Bill Hagerty (R-TN), as well as the bill’s dozens of bipartisan cosponsors, for their continued leadership on this issue – a top MBA advocacy priority,” he…