Latest news with #HomebuyersPrivacyProtectionAct
Business Wire
03-08-2025
- Business
- Business Wire
BAC Applauds Landmark Passage of Trigger Lead Ban
WASHINGTON--(BUSINESS WIRE)--The Broker Action Coalition (BAC) welcomes the passage of the Homebuyers Privacy Protection Act, bipartisan legislation that limits the sale of trigger leads. With the Senate passing the House version on August 2, the bill has officially cleared Congress and now heads to the President's desk. The BAC urges President Trump to sign the bill into law without delay. 'This victory shows what's possible when brokers get involved, stay organized, and invest in advocacy.' Brendan McKay, Chief Advocacy Officer and Co-Founder of the BAC Share The passage of this bill through Congress marks the culmination of a multi-year advocacy effort—driven by the BAC, its advocates, and coalition partners. Led by the Mortgage Bankers Association (MBA), this united effort aimed to ban abusive trigger lead practices and curb the sale of consumer data without consent. This legislative victory would not have been possible without the leadership of Representatives John Rose (R-TN) and Ritchie Torres (D-NY) and Senators Jack Reed (D-RI) and Bill Hagerty (R-TN). Why Brokers Fought to End Trigger Leads When a consumer applies for a mortgage and their credit is pulled, credit bureaus sell that data as 'trigger leads'—including personal details like full name, contact information, and credit score range. Solicitors buy these leads and unleash a barrage of calls, texts, and emails, overwhelming homebuyers at a critical point in the process. All of this is done without the consumer's permission or proper disclosure. Some solicitors blur compliance boundaries, using deceptive language to imply connections with brokers or lenders. In addition to violating basic data privacy expectations, these tactics erode consumer trust and have been especially harmful to first-time homebuyers, non-native English speakers, and other vulnerable borrowers. The Homebuyers Privacy Protection Act ends these abusive practices while preserving narrow exceptions for pre-existing relationships and giving consumers the power to opt in. Thank You to the Partners Who Powered the Push Advocacy at this level doesn't happen alone. It takes investment, commitment, and shared belief in what's possible. The BAC is proud to recognize the partners that helped make this win possible: Equity Prime Mortgage (EPM), Pennymac TPO, The Loan Store, Inc., Rocket Pro, Paramount Residential Mortgage Group, Inc. (PRMG), Freedom Mortgage Wholesale Division, Newfi Wholesale, Gold Star Wholesale, and West Capital Lending. These partners stood alongside brokers and homebuyers to champion stronger consumer protections and real industry change. Continued Commitment to Homebuyer & Broker Interests 'The BAC was built to channel broker priorities into real policy wins. When we launched, we asked our earliest supporters to help set the agenda. The response was overwhelmingly clear: ending abusive trigger leads was our top priority. Today's congressional action delivered on that,' said Brendan McKay, BAC Chief Advocacy Officer and Co-Founder. 'This victory shows what's possible when brokers get involved, stay organized, and invest in advocacy.' 'This is a major win—but it's just the beginning,' added Rachel Clark, BAC Executive Director. 'If you want more of this kind of progress, brokers need to keep showing up—and start funding the fight.' About the Broker Action Coalition The Broker Action Coalition (BAC) is the grassroots advocacy channel uniting mortgage brokers and their supporters to fight for broker and homebuyer rights nationwide. The BAC aims to level the playing field between independent mortgage brokers and retail banks, to support inclusive homebuying policy change, and to fight for the needs of Veterans, minorities, and underserved communities to make the American dream of homeownership possible for more people than ever before. For more information or to support our advocacy efforts, visit
Associated Press
03-08-2025
- Business
- Associated Press
BAC Applauds Landmark Passage of Trigger Lead Ban
WASHINGTON--(BUSINESS WIRE)--Aug 3, 2025-- The Broker Action Coalition (BAC) welcomes the passage of the Homebuyers Privacy Protection Act, bipartisan legislation that limits the sale of trigger leads. With the Senate passing the House version on August 2, the bill has officially cleared Congress and now heads to the President's desk. The BAC urges President Trump to sign the bill into law without delay. The passage of this bill through Congress marks the culmination of a multi-year advocacy effort—driven by the BAC, its advocates, and coalition partners. Led by the Mortgage Bankers Association (MBA), this united effort aimed to ban abusive trigger lead practices and curb the sale of consumer data without consent. This legislative victory would not have been possible without the leadership of Representatives John Rose (R-TN) and Ritchie Torres (D-NY) and Senators Jack Reed (D-RI) and Bill Hagerty (R-TN). Why Brokers Fought to End Trigger Leads When a consumer applies for a mortgage and their credit is pulled, credit bureaus sell that data as 'trigger leads'—including personal details like full name, contact information, and credit score range. Solicitors buy these leads and unleash a barrage of calls, texts, and emails, overwhelming homebuyers at a critical point in the process. All of this is done without the consumer's permission or proper disclosure. Some solicitors blur compliance boundaries, using deceptive language to imply connections with brokers or lenders. In addition to violating basic data privacy expectations, these tactics erode consumer trust and have been especially harmful to first-time homebuyers, non-native English speakers, and other vulnerable borrowers. The Homebuyers Privacy Protection Act ends these abusive practices while preserving narrow exceptions for pre-existing relationships and giving consumers the power to opt in. Thank You to the Partners Who Powered the Push Advocacy at this level doesn't happen alone. It takes investment, commitment, and shared belief in what's possible. The BAC is proud to recognize the partners that helped make this win possible: Equity Prime Mortgage (EPM), Pennymac TPO, The Loan Store, Inc., Rocket Pro, Paramount Residential Mortgage Group, Inc. (PRMG), Freedom Mortgage Wholesale Division, Newfi Wholesale, Gold Star Wholesale, and West Capital Lending. These partners stood alongside brokers and homebuyers to champion stronger consumer protections and real industry change. Continued Commitment to Homebuyer & Broker Interests 'The BAC was built to channel broker priorities into real policy wins. When we launched, we asked our earliest supporters to help set the agenda. The response was overwhelmingly clear: ending abusive trigger leads was our top priority. Today's congressional action delivered on that,' said Brendan McKay, BAC Chief Advocacy Officer and Co-Founder. 'This victory shows what's possible when brokers get involved, stay organized, and invest in advocacy.' 'This is a major win—but it's just the beginning,' added Rachel Clark, BAC Executive Director. 'If you want more of this kind of progress, brokers need to keep showing up—and start funding the fight.' About the Broker Action Coalition The Broker Action Coalition (BAC) is the grassroots advocacy channel uniting mortgage brokers and their supporters to fight for broker and homebuyer rights nationwide. The BAC aims to level the playing field between independent mortgage brokers and retail banks, to support inclusive homebuying policy change, and to fight for the needs of Veterans, minorities, and underserved communities to make the American dream of homeownership possible for more people than ever before. For more information or to support our advocacy efforts, visit View source version on CONTACT: For media inquiries, please contact: Name: Rachel Clark Executive Director, Broker Action Coalition Email:[email protected] KEYWORD: DISTRICT OF COLUMBIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE BANKING TECHNOLOGY CONSTRUCTION & PROPERTY PROFESSIONAL SERVICES WHITE HOUSE/FEDERAL GOVERNMENT ONLINE PRIVACY CONGRESSIONAL NEWS/VIEWS PUBLIC POLICY/GOVERNMENT ADVOCACY GROUP OPINION FINANCE SOURCE: Broker Action Coalition Copyright Business Wire 2025. PUB: 08/03/2025 08:04 AM/DISC: 08/03/2025 08:04 AM
Business Wire
30-04-2025
- Business
- Business Wire
Broker Action Coalition's Advocacy in Action Fly-In Unites and Elevates the Broker Voice
WASHINGTON--(BUSINESS WIRE)--The Broker Action Coalition (BAC), the leading grassroots advocacy network representing independent mortgage brokers, brought energy and purpose to Capitol Hill this April. More than 125 mortgage brokers and industry professionals from across the country joined together to deliver a unified broker voice straight to the halls of Congress. From April 8–10, the BAC hosted its annual Advocacy in Action Fly-In—an event designed to amplify the voice of independent mortgage brokers and ensure they have a seat at the table. The three-day event provided powerful training, meaningful networking, critical fundraising, and hands-on advocacy, capped off with 39 meetings with members of Congress and their staff. In a defining moment of the event, Rep. John Rose (R-TN) signed H.R. 2808 live on stage with Brendan McKay, BAC Chief Advocacy Officer, before walking down the hall to reintroduce the bill to Congress. The Homebuyers Privacy Protection Act, in conjunction with S. 1467, would amend the Fair Credit Reporting Act to ban 'trigger leads' in all but a limited set of circumstances. McKay adds, 'Having Rep. Rose sign the bill on stage, surrounded by mortgage brokers from across the country, was more than symbolic—it was proof that when brokers show up, we move the needle. H.R. 2808 is about protecting consumers, restoring trust, and making sure the credit bureaus can no longer sell consumer data without consent. It's long past time to close this egregious loophole and put an end to abusive trigger lead practices.' Powerful Three-Day Agenda The event opened on Tuesday, April 8, 2025, with an impactful day of roundtables focused on homeownership and state-level advocacy. Day 1 featured three sessions exploring the current states of veteran and Black homeownership, along with key state-level legislative updates and big wins in local advocacy. Each session was led by BAC leadership, with insightful contributions from representatives of the Veterans Association of Real Estate Professionals (VAREP), Vetted VA, and the Black Mortgage Professional Alliance (BMPA). Day 2 was all about preparation—an intensive 8-hour 'Training Day' focused on the most pressing issues in the housing market, BAC's current initiatives, and strategies to clearly communicate those priorities to lawmakers. Sessions featured representatives from the National Association of Realtors (NAR), National Association of Hispanic Real Estate Professionals (NAHREP), and VAREP, alongside industry leaders from VantageScore, Rocket Pro, UMortgage, The Loan Store, PRMG, Newfi Wholesale, GoRascal, Gold Star Mortgage Financial Group, Forbes Tate Partners, The Mortgage Mentor, WinSocial, SocialCoach, and others. Panels explored key topics including credit scoring changes, executive insights, inter-industry collaboration, leadership strategy, local advocacy, and social media. During 'The Backbone of Capitol Hill: A Conversation with Congressional Staff,' attendees heard directly from senior staffers from the House Financial Services Committee who shared practical tips and behind-the-scenes insight into how decisions are made on Capitol Hill. During 'Hill Day,' BAC advocates flooded Capitol Hill—bringing the unified voice of the broker channel directly to lawmakers. The morning began with invigorating remarks from Rep. William Timmons (R-SC) and Rep. John Rose (R-TN), who signed H.R. 2808 on stage. Following the morning program, attendees participated in 39 face-to-face meetings with members of Congress and their staff, advocating for the passage of the Homebuyers Privacy Protection Act and sharing firsthand stories about how legislative decisions affect homebuyers, brokers, and local communities. Rachel Clark, BAC Executive Director, added: 'This event was proof that grassroots advocacy works. When brokers come together, we're not just telling our story—we're shaping the future of this industry. I'm incredibly proud of the passion our attendees brought to Washington, and we're just getting started.' Successful Event Made Possible by Corporate Donors & Individual Supporters The BAC's ability to advocate at this level is made possible thanks to the commitment of its corporate donors and individual contributors. Their support ensures that independent mortgage brokers have a strong, unified voice in the conversations shaping housing policy. The BAC is proud to announce new corporate donors: Rocket Pro Freedom Mortgage Wholesale The BAC is grateful to its returning supporters for their continued investment in broker-led advocacy: EPM PENNYMAC TPO The Loan Store PRMG Newfi Gold Star Wholesale The Broker Action Coalition is fueled by the people who believe in it. We welcome donations from brokers, industry professionals, and allies who want to shape a stronger future for brokers and homeowners across the nation. Every dollar counts and helps us strengthen our collective voice. To support our advocacy efforts, visit About the Broker Action Coalition The BAC is the grassroots advocacy network representing independent mortgage brokers nationwide, advocating for the broker channel and American homebuyers. We fight to level the playing field between mortgage brokers and retail banks, support inclusive homebuying policy changes, and advocate for the needs of veterans, minorities, and underserved communities, making the American dream of homeownership obtainable for more people than ever before. To learn more or get involved, visit
