House Passes Mortgage Choice Act (Again); Proponents Cite “One-Stop Shopping” Myth as Reason

The House voted 280-131 to pass H.R. 1153, the Mortgage Choice Act of 2017, a regulatory bill that was created in an effort to provide relief to mortgage lenders by excluding certain charges from the points and fees calculation. In support of his bill, Rep. Bill Huizenga (R-Michigan), argues it would preserve consumer choice and potentially…

House Passes TRID Improvement Act; Aims to Improve Disclosure of Title Insurance Premiums to Consumers

The House of Representatives voted 271 to 145 to approve the TRID (TILA-RESPA Integrated Disclosure) Improvement Act of 2017 (H.R. 3978), which would amend the Real Estate Settlement Procedures Act to require the Consumer Financial Protection Bureau (CFPB) to allow the accurate disclosure of title insurance premiums and any potential available discounts to home buyers…