Dear MBANJ Members and Industry Partners,

We are pleased to share a significant legislative development that directly impacts our industry. Over the weekend, the U.S. Senate unanimously passed the MBA-supported Homebuyers Privacy Protection Act of 2025 (H.R. 2808), marking a major victory for mortgage professionals and consumers alike. The bill now heads to President Trump’s desk for enactment.

This legislation represents the culmination of a multi-year advocacy effort to curb the abusive use of mortgage trigger leads, while still allowing their use in limited, consumer-protective scenarios.

Key Provisions of the Bill:

Under H.R. 2808, credit reporting agencies (CRAs) may not furnish a trigger lead to a third party unless the party certifies that:

• The consumer has explicitly opted in to receive such solicitations, or
• The third party has a pre-existing relationship with the consumer, such as:
  • Origination of the current residential mortgage,
  • Servicing the current residential mortgage, or
  • Being an insured depository institution or credit union that holds a deposit account for the consumer.

Importantly, this legislation targets the source of the trigger leads, the three major credit bureaus, rather than attempting to regulate the thousands of downstream users. The restrictions will go into effect six months after the bill is signed into law.

A Victory for Industry Advocacy

This success would not have been possible without the persistent efforts of the Mortgage Bankers Association (MBA) and the Mortgage Action Alliance (MAA). We also extend our thanks to the many Independent Mortgage Bankers (IMBs) and MBANJ members who took part in calls to action throughout this legislative journey.

As always, your voice matters.

We’ll continue to monitor the bill’s progress and will provide updates once it is signed into law. You can also read MBA’s official press statement on the Senate passage here.

Sincerely,
Mortgage Bankers Association of New Jersey (MBANJ)