Mortgage Choice Act of 2017

Bill: 115-hr-1153
Sponsor: Rep. Huizenga, Bill [R-MI-2]
Introduced: 2017-02-16 in the House
Policy area: Housing and Community Development
Subjects: Administrative law and regulatory procedures
Consumer Financial Protection Bureau
Housing finance and home ownership
User charges and fees

Summary:
action_date: 2017-02-16
text: 

Mortgage Choice Act of 2017

 
This bill amends the Truth in Lending Act to specify that neither escrow charges for insurance nor affiliated title charges shall be considered "points and fees" for purposes of determining whether a mortgage is a "high-cost mortgage." 

action_date: 2018-01-22
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Mortgage Choice Act of 2017

 
(Sec. 2) This bill amends the Truth in Lending Act to specify that neither escrow charges for insurance nor affiliated title charges shall be considered "points and fees" for purposes of determining whether a mortgage is a "high-cost mortgage." (A high-cost mortgage designation restricts the terms of the loan and requires a lender to make certain disclosures to the borrower.)

action_date: 2018-02-08
text: 
(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.) 
 

Mortgage Choice Act of 2017

 
(Sec. 2) This bill amends the Truth in Lending Act to specify that neither escrow charges for insurance nor affiliated title charges shall be considered "points and fees" for purposes of determining whether a mortgage is a "high-cost mortgage." (A high-cost mortgage designation restricts the terms of the loan and requires a lender to make certain disclosures to the borrower.)


Legislative actions:
action_date: 2018-02-12
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2018-02-08
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2018-02-08
text: On passage Passed by the Yeas and Nays: 280 - 131 (Roll no. 64).
action_date: 2018-02-08
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 280 - 131 (Roll no. 64).
action_date: 2018-02-08
text: Considered as unfinished business. (consideration: CR H981-982)
action_date: 2018-02-07
text: POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 1153, the Chair put the question on passage of the bill, and by voice vote announced that the ayes had prevailed. Mr. Hensarling demanded the yeas and nays, and the Chair postponed further proceedings on the question of passage until a time to be announced.
action_date: 2018-02-07
text: The previous question was ordered pursuant to the rule.
action_date: 2018-02-07
text: DEBATE - The House proceeded with one hour of debate on H.R. 1153.
action_date: 2018-02-07
text: The resolution provides for one hour of debate on each measure. The resolution also waives the requirement of clause 6(a) of rule XIII for a two-thirds vote to consider a report from the Committee on Rules on the same day it is presented to the House with respect to any resolution reported through the legislative day of February 9, 2018. It shall be in order at any time on the legislative day of February 8, 2018 or February 9, 2018 for the Speaker to entertain motions to suspend the rules.
action_date: 2018-02-07
text: Considered under the provisions of rule H. Res. 725. (consideration: CR H906-965; text: CR H907)
action_date: 2018-02-05
text: Rules Committee Resolution H. Res. 725 Reported to House. The resolution provides for one hour of debate on each measure. The resolution also waives the requirement of clause 6(a) of rule XIII for a two-thirds vote to consider a report from the Committee on Rules on the same day it is presented to the House with respect to any resolution reported through the legislative day of February 9, 2018. It shall be in order at any time on the legislative day of February 8, 2018 or February 9, 2018 for the Speaker to entertain motions to suspend the rules.
action_date: 2018-01-22
text: Placed on the Union Calendar, Calendar No. 387.
action_date: 2018-01-22
text: Reported by the Committee on Financial Services. H. Rept. 115-522.
action_date: 2018-01-22
text: Reported by the Committee on Financial Services. H. Rept. 115-522.
action_date: 2017-11-14
text: Ordered to be Reported by the Yeas and Nays: 46 - 13.
action_date: 2017-11-14
text: Committee Consideration and Mark-up Session Held.
action_date: 2017-02-16
text: Referred to the House Committee on Financial Services.
action_date: 2017-02-16
text: Introduced in House
action_date: 2017-02-16
text: Introduced in House