FREE PREVIEW
|
LOGIN OR SUBSCRIBE NOW TO READ THIS ARTICLE
|
House passes Mortgage Choice Act
|
Legislative Developments
Wednesday, June 11, 2014
|
|
On June 9, the U.S. House of Representatives unanimously passed H.R. 3211, the Mortgage Choice Act. The bill amends the qualified mortgage (QM) definition in the Dodd Frank Act, designed to improve access to credit and qualified mortgages for low and moderate income borrowers while protecting consumers from bad loans.
The bill, sponsored by Rep. Bill Huizenga, R-Michigan, specifically clarifies the treatment of insurance and taxes held in escrow and removes affiliated title fees from the points and fees calculation under the Ability to Repay Rule.
TO READ THE FULL STORY
|
|
Already a subscriber?
Problems logging in?
Please call 330-659-6101 x 805 or email us for assistance.
|
|
Today's other top stories