House passes HR 3211 the “Mortgage Choice Act”

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.

http://www.mortgagenewsdaily.com/06102014_qualified_mortgage.asp

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