Trump Axes Trigger Leads

Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard discuss if trigger leads will finally be a thing of the past. Good news, we might all be getting less spam calls! National Mortgage Professional says “Trump signs homebuyer privacy protection act, ending abusive trigger leads.” Now, we wait six months for the enactment period to pass from the signing for this to go into effect. A trigger lead is when your credit is pulled by a mortgage company. The bureau’s sell that information – and the borrowers phone will blow up immediately with calls within the first hour of having your credit pulled by the people who purchased that information. That is abusive, and the reason why this legislation was put together. The new legislation will still allow for existing relationships with the borrower to be notified about the trigger lead, such as their lender and servicer. However, there are still unknowns such as how it will be enforced, but we are excited for this legislation nonetheless! Listen in as we discuss this and more! Grow Your Business: https://join.nflp.com/

Grow Your Business: https://join.nflp.com/

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.