This article explores the National Association of Mortgage Brokers’ (NAMB) reaction to the legislative proposal that seeks to ban the use of trigger leads. Trigger leads are “pre-screened” leads that mortgage brokers can purchase in order to market their services and solicit business.

The NAMB has come out in support of this proposal and welcomes it as a means of increasing compliance standards and forbidding the unethical practice of targeting consumers with trigger leads. They argue that trigger leads do not give an adequate and accurate picture of the overall financial product. The NAMB also supports the proposal and its intention to eliminate any potential for legal violations, as well as potential for potential for lead misdirection and privacy violations.

The NAMB is a trade association that represents a wide range of mortgage industry participants from originators and brokers to loan officers and other secondary market mortgage professionals. The NAMB has long been a voice for ethical standards in the mortgage industry and this proposal is another step in that direction.

The NAMB believes that banning the use of trigger leads will help to ensure consumers are presented with all key loan product disclosures and that they have the opportunity to ask the right questions. This ban is viewed as a positive step by the NAMB, as it will encourage industry players to focus on providing customers with honest, clear information and help to put them in the best possible financial positions.

You can read this full article at: https://www.housingwire.com/articles/namb-welcomes-legislative-proposal-to-ban-use-of-trigger-leads/(subscription required)

Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.