arrow_back Back to App

Homebuyers Privacy Protection: Stopping Unwanted Mortgage Offers and Solicitations.

This law protects your privacy when applying for a home loan by restricting data sharing. Credit reporting agencies are prohibited from selling your credit report information to other companies that flood you with unsolicited offers after your initial application. This significantly reduces the number of unwanted calls and mailings from competing lenders during the home-buying process.
Key points
Credit agencies are prohibited from sharing your credit report with other companies if the initial request was related to a residential mortgage loan.
This limits the practice of selling consumer data (known as 'trigger leads'), reducing the volume of unsolicited credit offers and advertisements you receive.
Exceptions to the ban apply only if the other company already services your current mortgage, has your explicit authorization, or is a bank/credit union where you already hold an account.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_3502
Sponsor: Sen. Reed, Jack [D-RI]
Process start date: 2023-12-13
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Homebuyers Privacy Protection Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3502.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-12-13.

What are the main provisions?

Key points include:

  • Credit agencies are prohibited from sharing your credit report with other companies if the initial request was related to a residential mortgage loan.
  • This limits the practice of selling consumer data (known as 'trigger leads'), reducing the volume of unsolicited credit offers and advertisements you receive.
  • Exceptions to the ban apply only if the other company already services your current mortgage, has your explicit authorization, or is a bank/credit union where you already hold an account.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Reed, Jack [D-RI].

What is the latest detailed status?

The latest detailed status is: Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S7093)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Real Estate Courts and Law Economy