CHARLOTTE, North Carolina — March 4, 2026
Executive Summary
LendingTree, Inc. (NASDAQ: TREE), an online financial marketplace that connects consumers with lenders and financial service providers, announced its support for the implementation of the Homebuyers Privacy Protection Act, commonly referred to as the Trigger Leads Bill, which takes effect this week. The legislation introduces changes to the Fair Credit Reporting Act (FCRA) aimed at addressing practices related to mortgage trigger leads.
Trigger leads occur when a consumer’s mortgage-related credit inquiry is sold by a credit bureau to third-party lenders that were not involved in the consumer’s initial mortgage application. According to LendingTree, these practices have frequently resulted in consumers receiving numerous unsolicited communications shortly after applying for a home loan. The new law establishes requirements intended to reduce unwanted outreach by requiring lenders using trigger leads to make a firm offer of credit and obtain documented authorization from consumers before initiating contact. LendingTree stated that the law introduces guardrails intended to enhance consumer privacy while preserving competition among lenders in the mortgage market.
Announcement Overview
LendingTree announced its support for the implementation of the Homebuyers Privacy Protection Act, legislation that modifies provisions of the Fair Credit Reporting Act related to mortgage trigger leads. The law is designed to introduce additional safeguards for consumers applying for home loans by regulating how lenders may use trigger lead information obtained from credit bureaus.
Trigger leads occur when a consumer’s credit inquiry for a mortgage application is recorded by a credit bureau and then made available to other lenders. Those lenders may purchase the lead and use the information to contact the consumer with competing loan offers, even if the consumer did not initiate contact with them.
According to LendingTree, this practice has frequently resulted in consumers receiving numerous unsolicited communications shortly after submitting a mortgage application. The company stated that borrowers may receive multiple calls, text messages, or emails from companies that were not involved in the original loan application process.
The Homebuyers Privacy Protection Act establishes new requirements intended to address these practices. Under the law, lenders that use trigger leads must make a firm offer of credit and obtain documented authorization from the consumer before contacting them. Limited exceptions are provided for institutions that already maintain a relationship with the borrower, including existing loan originators, mortgage servicers, depository institutions, and credit unions.
LendingTree stated that the legislation introduces measures intended to reduce unwanted communication while preserving competition among lenders offering mortgage products.
Key Announcement Details
- Announcement Type: Corporate statement supporting implementation of federal legislation affecting mortgage trigger lead practices
- Company: LendingTree, Inc. (NASDAQ: TREE), an online financial marketplace
- Legislation Referenced: Homebuyers Privacy Protection Act, commonly referred to as the Trigger Leads Bill
- Regulatory Framework: The legislation amends the Fair Credit Reporting Act (FCRA)
- Effective Timing: The Homebuyers Privacy Protection Act takes effect during the week of March 4, 2026
- Primary Issue Addressed: Mortgage trigger lead practices involving the sale of credit inquiry information by credit bureaus to third-party lenders
- Definition of Trigger Leads: Trigger leads occur when a consumer’s mortgage credit inquiry is sold by a credit bureau to lenders who were not involved in the consumer’s original mortgage application
- Consumer Impact Identified: Mortgage applicants may receive unsolicited calls, emails, and text messages shortly after submitting a mortgage application
- Survey Data Referenced: A LendingTree survey found 56% of people who applied for a financial loan received between 10 and 50 unsolicited communications following their application
- Legislative Requirement: Lenders using trigger leads must make a firm offer of credit
- Consumer Authorization Requirement: Lenders must obtain documented consumer authorization before contacting the borrower
- Exceptions in the Law:
- Current loan originators
- Mortgage servicers
- Depository institutions with an existing relationship with the borrower
- Credit unions with an existing relationship with the borrower
- Purpose of the Legislation: Introduce guardrails intended to reduce opportunistic outreach while preserving competition among lenders
- LendingTree’s Role: LendingTree stated it advocated for enactment of the legislation
- Policy Engagement: The company reported working with lawmakers and industry stakeholders on efforts to modernize trigger lead practices
- Company Position: LendingTree stated the law aligns with its consumer-permissioned marketplace model
- Marketplace Structure: Consumers come directly to LendingTree to request loan options, after which lenders compete for their business
- Market Objective Referenced by the Company: Promote consumer transparency, choice, and permission-based engagement in mortgage lending
- Leadership Statement Source: Scott Peyree, Chief Executive Officer of LendingTree
- Industry Outcome Identified by the Company: The law aims to strengthen competition based on price, service, and product value rather than outbound solicitation volume
- Ongoing Commitment: LendingTree stated it will continue engaging with policymakers, regulators, and industry participants regarding consumer protections and market transparency
- Company Headquarters: Charlotte, North Carolina
- Marketplace Scale: LendingTree operates a financial marketplace network including more than 430 financial partners
Strategic Context: Mortgage Trigger Lead Practices
The Homebuyers Privacy Protection Act addresses practices associated with mortgage trigger leads, which occur when credit bureaus distribute information about mortgage-related credit inquiries to lenders that were not part of the original application process.
According to LendingTree, this process can result in borrowers receiving numerous unsolicited communications shortly after applying for a home loan. These communications may include phone calls, emails, or text messages from lenders offering competing mortgage products.
A survey conducted by LendingTree found that 56 percent of individuals who applied for a financial loan reported receiving between 10 and 50 unsolicited communications following their application. The company indicated that such communications may occur within hours of a consumer initiating a mortgage inquiry.
The Homebuyers Privacy Protection Act establishes requirements intended to limit these practices. The law requires lenders that obtain trigger lead information to make a firm offer of credit and obtain documented consumer authorization prior to contacting borrowers. The legislation includes exceptions for financial institutions that already maintain a relationship with the consumer, such as the borrower’s existing lender, mortgage servicer, depository institution, or credit union.
According to LendingTree, the legislation is designed to introduce guardrails that address unwanted communications while maintaining competition in the mortgage lending market.
LendingTree’s Engagement With the Legislation
LendingTree stated that it played a role in advocating for the enactment of the Homebuyers Privacy Protection Act. The company indicated that it worked with lawmakers and industry stakeholders on efforts related to modernizing practices associated with mortgage trigger leads.
According to the company, its engagement reflects its stated focus on providing a marketplace where consumers can compare financial products in a permission-based environment. LendingTree operates an online platform that allows consumers to request loan options and compare offers from multiple financial institutions.
The company indicated that its marketplace model is designed to allow consumers to initiate the process of seeking loan offers directly through the platform. Lenders participating in the network may then present loan offers to consumers who have expressed interest in receiving them.
LendingTree stated that the changes introduced through the Homebuyers Privacy Protection Act align with its model of consumer-directed financial comparison and permission-based engagement between lenders and borrowers.
Leadership Statements
“Consumers shopping for a mortgage should be empowered, not overwhelmed,” said Scott Peyree, Chief Executive Officer of LendingTree. “For too long, trigger lead practices have created confusion and frustration for homebuyers. This legislation reinforces a simple principle: consumers deserve transparency, choice and control over who contacts them about one of the most significant financial decisions of their lives.”
Peyree also noted the company’s perspective on how the legislation may affect competition among lenders participating in the mortgage market.
“Healthy competition drives better outcomes for borrowers,” Peyree said. “This law strengthens competition based on price, service and product value, not on the speed or volume of outbound calls. That’s good for consumers and good for responsible lenders.”
LendingTree Marketplace Model
LendingTree operates an online financial marketplace designed to connect consumers with financial institutions offering loans, credit cards, insurance products, and other financial services. Through the platform, consumers may request financial product offers from participating lenders and service providers.
The company stated that its marketplace model is consumer-permissioned and intent-based, meaning that consumers voluntarily request loan options through the platform before lenders present offers. Participating lenders then compete to provide financial products to consumers who have expressed interest in comparing options.
According to LendingTree, this model is intended to allow consumers to evaluate offers from multiple lenders while maintaining transparency in the loan comparison process.
The company indicated that aligning broader mortgage market practices with permission-based engagement between borrowers and lenders may support a more transparent and efficient lending environment.
Industry Context: Consumer Privacy and Mortgage Lending
The Homebuyers Privacy Protection Act represents a regulatory change affecting how lenders may use trigger lead data generated during mortgage credit inquiries.
Under the Fair Credit Reporting Act framework, credit bureaus collect and distribute consumer credit information to lenders and other authorized parties. Mortgage trigger leads are generated when a consumer’s credit inquiry indicates that the individual may be seeking a home loan.
The legislation introduces requirements intended to regulate how lenders may use such information when contacting consumers. According to LendingTree, the law establishes conditions designed to ensure that borrowers receive credit offers that meet defined requirements while also providing documented consent before outreach occurs.
The law includes exceptions for financial institutions that already maintain a relationship with the borrower, allowing those institutions to continue communicating with existing customers regarding mortgage products or related financial services.
As the law takes effect, LendingTree stated that it will continue engaging with policymakers, regulators, and industry participants on initiatives related to consumer protections and competition within the financial services sector.
About LendingTree, Inc.
LendingTree, Inc. is the parent company of LendingTree, LLC and several other businesses owned by LendingTree, LLC. Collectively referred to as LendingTree, the company operates an online financial services marketplace designed to connect consumers with financial institutions offering loans, credit cards, insurance products, and other financial services.
LendingTree (NASDAQ: TREE) provides consumers with access to financial product offers through a network of more than 430 financial partners. The platform enables consumers to compare loan and financial product options and evaluate offers from participating lenders.
Since its founding, LendingTree reports that it has helped millions of consumers obtain financing and compare financial products through its marketplace platform. The company also provides digital tools and financial recommendations designed to assist consumers in managing personal finances and evaluating financial options.
LendingTree is headquartered in Charlotte, North Carolina.
More information about the company is available at www.lendingtree.com.
Media Contact
For additional information, visit lendingtree.com.
Source Attribution
Source: Company announcement