{"id":60880,"date":"2025-08-30T03:05:09","date_gmt":"2025-08-30T01:05:09","guid":{"rendered":"https:\/\/housesmarketplace.com\/does-the-trigger-leads-bill-opt-in-provision-wave-goodbye-to-competition\/"},"modified":"2025-08-30T03:05:09","modified_gmt":"2025-08-30T01:05:09","slug":"does-the-trigger-leads-bill-opt-in-provision-wave-goodbye-to-competition","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/does-the-trigger-leads-bill-opt-in-provision-wave-goodbye-to-competition\/","title":{"rendered":"\u041f\u0440\u0438\u0432\u0435\u0434\u0435\u0442 \u043b\u0438 \u043f\u043e\u043b\u043e\u0436\u0435\u043d\u0438\u0435 \u043e \u0441\u043e\u0433\u043b\u0430\u0441\u0438\u0438 \u043d\u0430 \u0437\u0430\u043a\u043e\u043d\u043e\u043f\u0440\u043e\u0435\u043a\u0442 \u043a \u043f\u0440\u043e\u0449\u0430\u043d\u0438\u044e \u0441 \u043a\u043e\u043d\u043a\u0443\u0440\u0435\u043d\u0446\u0438\u0435\u0439?"},"content":{"rendered":"
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A long-awaited crackdown on trigger leads<\/a> is on its way to President Donald Trump\u2019s desk, but not everyone in the mortgage world is celebrating. Nestled in the bill is a provision that\u2019s leading professionals to raise doubts about whether the measure is a consumer safeguard or a competition killer.\u00a0<\/p>\n

\u201cThe act will require consumers to opt-in to receive these trigger leads or have an existing relationship with the entity requesting the information,\u201d reads a summary of the bill written by Independent Community Bankers of America<\/strong> (ICBA).<\/p>\n

An industry CEO who asked not to be named told HousingWire<\/strong> that the opt-in language in the bill is \u201cmeaningless.\u201d<\/p>\n

\u201cConsumers already get buried in fine print and disclosures they do not read or understand. Asking them to opt in just gives retail lenders another way to box out competition. They will bury that opt-in inside their applications and sales process and lock the borrower into their ecosystem before the borrower even realizes it.\u201d<\/p>\n

Another source who is involved in the industry\u2019s policy side expressed concerns about the opt-in button\u2019s potential to be \u201cabused,\u201d since consumers are used to agreeing to most internet pop-ups, such as buttons to \u201callow cookies.\u201d\u00a0<\/p>\n

\u201cUltimately, that\u2019ll have to be litigated,\u201d the policy expert said. \u201cBut I think that with the way it\u2019s written, with that opt-in, you\u2019re going to see folks abusing it and violating the spirit of the law most likely. And I wouldn\u2019t be surprised if we\u2019re still talking about trigger leads and a need for a legislative fix in two, three or four years from now.\u201d\u00a0<\/p>\n

The CEO source described the opt-in provision as a \u201cgift\u201d to retail lenders. <\/p>\n

\u201cIndependent brokers<\/a> do not have a billion-dollar marketing machine to trick people into opting in. Consumers will end up funneled right back to retail, where they pay more and have fewer options.\u201d<\/p>\n

As a result, the source said that the trigger leads bill \u201clocks in\u201d control for retail mortgage lenders. <\/p>\n

\u201cThey already keep 70% to 80% of their past clients. Take away trigger leads, and you hand them even more market power. \u2026 This is not about protecting consumers. It is about protecting the retail giants from competition.\u201d<\/p>\n

Brendan McKay<\/a>, owner of McKay Mortgage<\/strong> and chief advocacy officer for the Broker Action Coalition<\/a><\/strong> (BAC), admits that not enough is known about the opt-in provision or how it will be regulated.<\/p>\n

Who wins?<\/h2>\n

The social media buzz of the trigger leads argument<\/a> is contributing to the concerns among lenders and loan officers. McKay finds that it\u2019s common for industry talking heads to post \u201chot takes\u201d about trigger leads to get noticed.\u00a0<\/p>\n

Several industry figures have taken to social media to call the bill a win for the consumer. <\/p>\n

\u201cAnything to slow that barrage of calls that people get once they start the process should make people more willing to dip their toes into the water. \u2026 This is unabashedly positive,\u201d a source told HousingWire.\u00a0<\/p>\n

\u201cI think this is a win for everybody,\u201d said Dan Sogorka<\/a>, general manager for Rocket Pro<\/strong>. \u201cI don\u2019t think this is a death knell for any particular group of brokers. I think a small percentage of brokers who maybe have only done trigger leads will have to adjust a little bit.\u201d<\/p>\n

But opposing arguments have also arisen on LinkedIn<\/strong>. <\/p>\n

\u201cThe consumer choice already existed,\u201d said Patrick Neely, a former LO and real estate broker as well as the founder and CEO of HomeSifter<\/strong>. He does not see the legislation as a victory for consumers. <\/p>\n

\u201cDoes that borrower know where to get a better rate<\/a>? The calls were noisy, but they could have been reformed into structured competition, [which is] a missed opportunity.\u201d<\/p>\n

Neely wrote separate letters to the Office of Inspector General<\/strong> and the Department of Justice <\/strong>that cited the \u201canticompetitive risks and regulatory capture concerns\u201d he has with the bill. <\/p>\n

\u201cInstead of eliminating the mechanism, policymakers could have reshaped it into a transparent, borrower-controlled opt-in that preserved competition,\u201d he told HousingWire.<\/p>\n

McKay disagrees. \u201cI think the overwhelming majority of the industry collectively agrees is a great thing. \u2026 The argument that we should have the ability to sell consumers\u2019 data<\/a> without their permission because we know what\u2019s best for them is a very arrogant one.\u201d\u00a0<\/p>\n

Sogorka also disagrees and shared his experience dealing with trigger leads. <\/p>\n

\u201cHaving done many refinances<\/a> and home purchases over the years, I wouldn\u2019t be happy to have signed all my paperwork feeling good about where we\u2019re going, and then get 100 random calls,\u201d he said. <\/p>\n

\u201cTo give you an example, I got three voicemails today on a home equity loan<\/a> I applied for a year and a half ago. Somehow, I\u2019m still reverberating around some trigger lead system where I\u2019ve gotten thousands of calls over the past, and that is not beneficial to me in the least.\u201d\u00a0<\/p>\n

The one area of agreement among sources is that after consumers, mortgage servicers will benefit the most. \u201cThis bill will result in total volume declining, but those companies with large servicing portfolios<\/a> or existing relationships will be able to defend those,\u201d one source said.\u00a0<\/p>\n

\u201cYou\u2019ll see servicing retention rates increase,\u201d McKay added. \u201cServicers will win as well, but when servicers win, everyone kind of wins.\u201d\u00a0<\/p>\n

A world without trigger leads\u00a0<\/h2>\n

The farewell to trigger leads means that brokers and lenders that used the leads have to pivot and develop a new lead generation strategy<\/a>. Sogorka said he imagines this will be easy for brokers who have \u201cmastered\u201d relationship building and have a strong referral network.<\/p>\n

\u201cEveryone uses trigger leads, but they are the best weapon brokers have against the big retail lenders,\u201d a source told HousingWire. \u201cThose companies already flood the airwaves with ads and have massive retention armies that keep their past clients locked in. Trigger leads are the one way we can break through that wall and give borrowers a real choice.\u201d<\/p>\n

The same source said that leads cost around 10 to 20 cents a pop. <\/p>\n

\u201cThe real cost is the work brokers put in to compete with billion-dollar call centers,\u201d they said. \u201cRetail tries to spin this as consumer protection, but the reality is, trigger leads are inexpensive and they create competition.\u201d<\/p>\n

At the end of the day, sources said the \u201cbiggest losers\u201d are credit unions, which were profiting from selling leads. <\/p>\n

Craig Ungaro<\/a>, chief operating officer and chief of staff at AnnieMac Home Mortgage<\/strong>, is of the opinion that call centers will simply move on to the next best option.<\/p>\n

\u201cI think that other lead types are going to get more expensive. So if the trigger leads are eliminated, call centers are going to go into different areas or different types of leads, and obviously, if you have more demand on that with less supply, the price is going to go up,\u201d Ungaro said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A long-awaited crackdown on trigger leads is on its way to President Donald Trump\u2019s desk, but not everyone in the mortgage world is celebrating. Nestled in the bill is a provision that\u2019s leading professionals to raise doubts about whether the measure is a consumer safeguard or a competition killer.\u00a0 \u201cThe act will require consumers to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-60880","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nDoes the trigger leads bill opt-in provision wave goodbye to competition? - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/does-the-trigger-leads-bill-opt-in-provision-wave-goodbye-to-competition\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Does the trigger leads bill opt-in provision wave goodbye to competition? - Houses Marketplace\" \/>\n<meta property=\"og:description\" content=\"A long-awaited crackdown on trigger leads is on its way to President Donald Trump\u2019s desk, but not everyone in the mortgage world is celebrating. 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