H.R. 2808 — Homebuyers Privacy Protection Act

This section limits a consumer reporting agency's ability to furnish prescreening consumer reports (i.e., for firm offers of credit or insurance) to another person following a request for a consumer report in connection with a residential mortgage loan credit transaction. The agency may furnish such a report only if the other person (1) has the consumer's authorization; (2) originated or services the consumer's current residential mortgage loan; or (3) is an insured depository institution or credit union (as defined in the Federal Credit Union Act, 12 U.S.C. 1752) holding a current account for the consumer.

This section directs the Comptroller General of the United States to conduct a study on the value of trigger leads (i.e., consumer contact information shared by credit bureaus for marketing purposes upon a credit inquiry) received by text message, incorporating input from state regulatory agencies, mortgage lenders, depository institutions, consumer reporting agencies, and consumers. The Comptroller General must submit a report to Congress containing the study's findings and determinations not later than 12 months after enactment.