Bill > H1049

This bill aims to protect consumers' privacy in mortgage applications by regulating the use of "mortgage trigger leads" - consumer reports obtained in response to a mortgage application that are then used by other lenders or brokers to solicit the consumer. The key provisions of the bill include: (1) requiring lenders or brokers using mortgage trigger leads to clearly disclose that they are not affiliated with the initial lender and that the information was purchased without the consumer's knowledge or permission; (2) requiring compliance with federal fair credit reporting laws, including making a firm offer of credit; and (3) prohibiting the use of mortgage trigger leads to solicit consumers who have opted out of prescreened credit offers or who are on a do-not-call list. The Attorney General is also required to promulgate regulations to implement these provisions.