Post-election uncertainties have cast doubt on whether the amendment will be approved and attached to the NDAA, as consumer reporting industry lobbyists provide pushback.
Under the new text, companies could only solicit consumers by telephone if they are the current mortgage originator, but other forms of solicitation remain allowed.
The proposal introduces a two-year implementation period before the rules take effect, which significantly contrasts with the amendment's stricter opt-in requirements.
The homebuyers privacy protection amendment aims to mitigate issues stemming from trigger leads, where potential borrowers are overwhelmed with unsolicited offers.
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