Bill > H1199

This bill aims to protect consumer privacy in mortgage applications by establishing new regulations around "mortgage trigger leads," which are consumer reports obtained when a credit inquiry is made in response to a mortgage application. The legislation defines mortgage trigger leads and prohibits certain solicitation practices that the bill considers unfair or deceptive. Specifically, when a solicitor uses a mortgage trigger lead to contact a potential borrower, they must clearly disclose that they are not affiliated with the original lender and that their contact information was purchased from a consumer reporting agency without the original lender's permission. The bill also forbids solicitors from using these leads to contact consumers who have opted out of prescreened credit offers or who are on federal or state Do Not Call lists. Violations of these provisions would be considered unfair or deceptive practices under Massachusetts consumer protection law. The Attorney General is tasked with creating regulations to implement these consumer privacy protections, which are designed to prevent unwanted and potentially misleading mortgage solicitations that use consumers' personal information without their direct consent.

Business and Industry

https://malegislature.gov/Bills/194/H1199