The Homebuyers Privacy Protection Act amends the Fair Credit Reporting Act to enhance consumer privacy, specifically for individuals applying for residential mortgage loans. It establishes new limitations on when a consumer reporting agency (CRA) can furnish a consumer report to a third party, if that report was initially requested in connection with a residential mortgage loan transaction. Under the new provisions, a CRA is generally prohibited from sharing such a report with another entity unless specific conditions are met. These conditions include the transaction being a firm offer of credit or insurance , and the other entity either having the consumer's explicit authorization , having originated or currently servicing the consumer's residential mortgage loan, or being an insured depository institution or credit union holding a current account for the consumer.