Legislators, industry take second bite at ‘discriminatory’ QM points and fees definition

One of the qualified mortgage requirements, the points and fees definition and threshold, have been troubling to proponents of affiliated business in the real estate and mortgage markets. While industry members have been hard at work trying to figure out what this new rule means for their business practices, others have introduced a bill to amend the statute and rule to end what they consider a discriminatory practice. That bill, H.R. 1077, the Consumer Mortgage Choice Act, was introduced last month.