House passes HR 3211 the "Mortgage Choice Act"

Posted by SoftPro on 6/12/14 9:37 PM

On June 9, the U.S. House of Representatives unanimously passed H.R. 3211, the Mortgage Choice Act of 2013.  The bill, sponsored by Rep. Bill Huizenga, R-Michigan,  specifically exempts fees paid to businesses affiliated with the lender, such as title companies, from the computation of points and fees under the QM cap.

[embed]http://www.mortgagenewsdaily.com/06102014_qualified_mortgage.asp[/embed]

Tags: Regulatory and Compliance

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