Homebuyers Privacy Protection Act
Sponsored By: Senator Reed, Jack [D-RI]
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.
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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
Reed, Jack [D-RI]
RI • D
Cosponsors
Bill Hagerty
TN • R
Sponsored 4/10/2025
Sen. Van Hollen, Chris [D-MD]
MD • D
Sponsored 4/10/2025
Sen. Tillis, Thomas [R-NC]
NC • R
Sponsored 4/10/2025
Sen. Cortez Masto, Catherine [D-NV]
NV • D
Sponsored 4/10/2025
Sen. Cramer, Kevin [R-ND]
ND • R
Sponsored 4/10/2025
Sen. Smith, Tina [D-MN]
MN • D
Sponsored 4/10/2025
Katie Britt
AL • R
Sponsored 4/10/2025
Sen. Gallego, Ruben [D-AZ]
AZ • D
Sponsored 4/10/2025
Sen. Ricketts, Pete [R-NE]
NE • R
Sponsored 4/10/2025
Sen. Alsobrooks, Angela D. [D-MD]
MD • D
Sponsored 4/10/2025
Mike Rounds
SD • R
Sponsored 4/10/2025
Shelley Capito
WV • R
Sponsored 4/10/2025
Sen. Wyden, Ron [D-OR]
OR • D
Sponsored 4/10/2025
Sen. Crapo, Mike [R-ID]
ID • R
Sponsored 4/10/2025
Cindy Hyde-Smith
MS • R
Sponsored 4/10/2025
Sen. Whitehouse, Sheldon [D-RI]
RI • D
Sponsored 4/10/2025
Sen. Risch, James E. [R-ID]
ID • R
Sponsored 4/10/2025
Sen. King, Angus S., Jr. [I-ME]
ME • I
Sponsored 4/10/2025
Sen. Tuberville, Tommy [R-AL]
AL • R
Sponsored 4/10/2025
Sen. Fetterman, John [D-PA]
PA • D
Sponsored 4/10/2025
Amy Klobuchar
MN • D
Sponsored 4/10/2025
Sen. Kaine, Tim [D-VA]
VA • D
Sponsored 4/10/2025
Sen. Rosen, Jacky [D-NV]
NV • D
Sponsored 4/10/2025
Sen. Shaheen, Jeanne [D-NH]
NH • D
Sponsored 4/10/2025
Sen. Blumenthal, Richard [D-CT]
CT • D
Sponsored 4/10/2025
Sen. Baldwin, Tammy [D-WI]
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
Sen. Bennet, Michael F. [D-CO]
CO • D
Sponsored 4/10/2025
Sen. Markey, Edward J. [D-MA]
MA • D
Sponsored 4/10/2025
Sen. Schatz, Brian [D-HI]
HI • D
Sponsored 4/10/2025
Sen. Merkley, Jeff [D-OR]
OR • D
Sponsored 4/10/2025
Sen. Kelly, Mark [D-AZ]
AZ • D
Sponsored 4/10/2025
Sen. Fischer, Deb [R-NE]
NE • R
Sponsored 4/10/2025
Sen. Heinrich, Martin [D-NM]
NM • D
Sponsored 4/29/2025
Roger Wicker
MS • R
Sponsored 5/1/2025
Sen. Moreno, Bernie [R-OH]
OH • R
Sponsored 5/5/2025
Sen. Banks, Jim [R-IN]
IN • R
Sponsored 5/14/2025
Sen. Cassidy, Bill [R-LA]
LA • R
Sponsored 5/15/2025
Sen. Collins, Susan M. [R-ME]
ME • R
Sponsored 5/20/2025
John Hoeven
ND • R
Sponsored 5/20/2025
Dan Sullivan
AK • R
Sponsored 5/21/2025
Sen. Scott, Rick [R-FL]
FL • R
Sponsored 6/5/2025
Sen. Durbin, Richard J. [D-IL]
IL • D
Sponsored 6/26/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov