During this COVID 19 National Emergency, protecting consumers, especially the elderly seeking income from reverse mortgages, is more important than ever.

The National Association of Mortgage Brokers (NAMB) supports H.R. 5720, legislation introduced by Congressman Lacy Clay, Chairman of the Committee on Financial Services, designed to ban trigger leads.

H.R. 5720 - The Trigger Leads Prohibition Act will protect consumers from having their data sold to companies who have no relationship or transactional connection to the consumer.

NAMB believes that the fact a consumer is applying for a mortgage should not be public information. In the era of dark web information being sold and numerous leaks and breaches of databases, the consumer needs to be given more control over their data. By allowing companies, with no direct connection to the consumer, to contact them while they are navigating through the complex mortgage process could be harmful and confusing and opens up the possibility of fraud and unfair and deceptive activity.