H.R. 2570 · 115th Congress
Mortgage Fairness Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PoseySponsor2 cosponsors · 2 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Truth in Lending Act to revise the definition of "points and fees," for purposes of determining whether a mortgage is a "high-cost mortgage," to: (1) exclude compensation taken into account in setting the interest rate and for which the consumer was not separately charged, and (2) include compensation paid by a consumer or creditor to…
What it does: CRS summary · Reported to House without amendment · Nov 14, 2018
Mortgage Fairness Act of 2017
This bill amends the Truth in Lending Act to revise the definition of "points and fees," for purposes of determining whether a mortgage is a "high-cost mortgage," to: (1) exclude compensation taken into account in setting the interest rate and for which the consumer was not separately charged, and (2) include compensation paid by a consumer or creditor to an individual employed by or contracting with a mortgage originator. (A high-cost mortgage designation restricts the terms of a loan and requires a lender to make certain disclosures to the borrower.)
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Mortgage Fairness Act of 2017
Latest action (Nov 14, 2018): Placed on the Union Calendar, Calendar No. 801.
Policy area: Housing and Community Development · Origin: House · Introduced: May 19, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.