09/09/2025
Finally a law that will make the homebuyer's experience easier. 🎉
The Homebuyer Privacy Protection Act was signed into law. As of today, when a homebuyer's credit is pulled, the information is sold by the credit reporting buraeus to lenders as a lead, this triggers a ridiculous amount of solicitations from lenders through phone calls and texts. Shopping for a mortgage is an important step, homebuyers should have the right to choose who they work with and who can access their very sensitive credit information. The protections start 180 days from now, I hope changes are implemented sooner by the credit reporting agencies.
I keep up with the latest news so I can prepare buyer on what to expect in the process.
The bipartisan legislation prevents homebuyers from being inundated with unsolicited calls, texts, and emails from competing lenders offering loans.