Homebuyers Privacy Protection Act
Sponsored By: Senator John Reed
Passed Senate
Summary
Protects homebuyers' credit privacy by restricting when consumer reporting agencies can use a mortgage-related prescreening request to share credit reports with others. It narrows who can get those prescreened reports and sets specific conditions for lenders, servicers, banks, and credit unions.
Show full summary
- Homebuyers and consumers: Limits the flow of prescreening credit reports tied to residential mortgage requests, which reduces unsolicited credit-based offers unless the consumer has authorized sharing or a firm offer exists.
- Lenders, servicers, and banks: Other parties can receive a prescreening report only if they have a firm offer of credit, have the consumer's authorization, originated or service the consumer's current mortgage, or are an insured depository institution or credit union that holds the consumer's account.
- Consumer reporting agencies and timing: Reporting agencies may not furnish a prescreening report to another person based on a mortgage-related request unless the bill's conditions are met. The changes take effect 180 days after enactment.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Limit sharing of mortgage reports
If enacted, this bill would limit how credit-report companies share prescreened reports tied to a residential mortgage request. Agencies could not use a mortgage-related report request to give a prescreened report to others unless two rules are met. First, the contact must be a firm offer of credit or insurance. Second, the recipient must either show the consumer's authorization, be the originator of the consumer's current mortgage, be the servicer of that mortgage, or be a bank or credit union that holds the consumer's current account. The bill also cross-references definitions for credit union, insured depository institution, residential mortgage loan, and servicer. The rule would take effect 180 days after enactment.
Sponsors & CoSponsors
Sponsor
John Reed
RI • D
Cosponsors
Bill Hagerty
TN • R
Sponsored 4/10/2025
Chris Van Hollen
MD • D
Sponsored 4/10/2025
Thomas Tillis
NC • R
Sponsored 4/10/2025
Catherine Cortez Masto
NV • D
Sponsored 4/10/2025
Kevin Cramer
ND • R
Sponsored 4/10/2025
Tina Smith
MN • D
Sponsored 4/10/2025
Katie Britt
AL • R
Sponsored 4/10/2025
Ruben Gallego
AZ • D
Sponsored 4/10/2025
Pete Ricketts
NE • R
Sponsored 4/10/2025
Angela Alsobrooks
MD • D
Sponsored 4/10/2025
Mike Rounds
SD • R
Sponsored 4/10/2025
Shelley Capito
WV • R
Sponsored 4/10/2025
Ron Wyden
OR • D
Sponsored 4/10/2025
Mike Crapo
ID • R
Sponsored 4/10/2025
Cindy Hyde-Smith
MS • R
Sponsored 4/10/2025
Sheldon Whitehouse
RI • D
Sponsored 4/10/2025
James Risch
ID • R
Sponsored 4/10/2025
Angus King
ME • I
Sponsored 4/10/2025
Tommy Tuberville
AL • R
Sponsored 4/10/2025
John Fetterman
PA • D
Sponsored 4/10/2025
Amy Klobuchar
MN • D
Sponsored 4/10/2025
Timothy Kaine
VA • D
Sponsored 4/10/2025
Jacky Rosen
NV • D
Sponsored 4/10/2025
Jeanne Shaheen
NH • D
Sponsored 4/10/2025
Richard Blumenthal
CT • D
Sponsored 4/10/2025
Tammy Baldwin
WI • D
Sponsored 4/10/2025
Peter Welch
VT • D
Sponsored 4/10/2025
John Hickenlooper
CO • D
Sponsored 4/10/2025
Gary Peters
MI • D
Sponsored 4/10/2025
Michael Bennet
CO • D
Sponsored 4/10/2025
Edward Markey
MA • D
Sponsored 4/10/2025
Brian Schatz
HI • D
Sponsored 4/10/2025
Jeff Merkley
OR • D
Sponsored 4/10/2025
Mark Kelly
AZ • D
Sponsored 4/10/2025
Deb Fischer
NE • R
Sponsored 4/10/2025
Martin Heinrich
NM • D
Sponsored 4/29/2025
Roger Wicker
MS • R
Sponsored 5/1/2025
Bernie Moreno
OH • R
Sponsored 5/5/2025
Jim Banks
IN • R
Sponsored 5/14/2025
Bill Cassidy
LA • R
Sponsored 5/15/2025
Susan Collins
ME • R
Sponsored 5/20/2025
John Hoeven
ND • R
Sponsored 5/20/2025
Dan Sullivan
AK • R
Sponsored 5/21/2025
Rick Scott
FL • R
Sponsored 6/5/2025
Richard Durbin
IL • D
Sponsored 6/26/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in