LendingTree Applauds Landmark Privacy Bill Protecting Homebuyers from Unwanted Solicitation

Core Points - The Homebuyer Privacy Protection Act, also known as the Trigger Leads Bill, was signed into law, enhancing consumer privacy for mortgage applicants by preventing unsolicited offers and communications [1][6][8] - The legislation received bipartisan support, passing unanimously in both chambers of Congress before being signed by the President [2][6] - The law amends the Fair Credit Reporting Act, prohibiting consumer reporting agencies from selling or distributing trigger leads without explicit consumer permission or a pre-existing relationship [3][4] Industry Impact - Trigger leads, which are prescreened consumer reports generated when applying for a mortgage, have been a growing concern in the homebuying industry due to the unsolicited communications they generate [4][5] - A survey indicated that 56% of loan applicants received between 10-50 unsolicited communications, with 83% expressing discomfort with these practices [4][5] - The legislation aims to restore privacy for homebuyers and reduce the pressure and confusion associated with unsolicited communications during the mortgage process [5][6][8] Company Response - LendingTree, a major player in the online financial platform space, has expressed strong support for the legislation, highlighting its role in protecting consumers and promoting a more transparent homebuying experience [7][8][10] - The company emphasizes that the new law will empower consumers to make informed financial decisions without harassment from lenders not associated with their mortgage search [8][9] - The Homebuyer Privacy Protection Act is set to be implemented within 180 days and will take effect in March 2026 [9]