Montana HB470 revises laws related to mortgages, prohibiting the use of trigger leads and defining related terms.

Montana HB470 revises laws related to mortgages, prohibiting the use of trigger leads and defining related terms. It defines "trigger lead" as information about a consumer's creditworthiness obtained by a credit reporting agency in response to an inquiry not initiated by the consumer. The bill prohibits the use of trigger leads in mortgage-related advertising and requires certain disclosures in advertisements. It also amends definitions related to mortgage origination, lending, and servicing, and updates advertising regulations for mortgage loan originators.

Montana HB470 revises laws related to mortgages, prohibiting the use of trigger leads and defining related terms.

Montana HB470 revises laws related to mortgages, prohibiting the use of trigger leads and defining related terms. It defines "trigger lead" as information about a consumer's creditworthiness obtained by a credit reporting agency in response to an inquiry not initiated by the consumer. The bill prohibits the use of trigger leads in mortgage-related advertising and requires certain disclosures in advertisements. It also amends definitions related to mortgage origination, lending, and servicing, and updates advertising regulations for mortgage loan originators.