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Bill115th CongressFiled May 19, 2017Housing and Community Development
H.R. 2570

Mortgage Fairness Act of 2017

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary 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.)

What just happenedNov 14, 2018

Placed on the Union Calendar, Calendar No. 801.

Who’s behind it

Rep. Posey, Bill [R-FL-8](R-FL)Sponsor
2 cosponsors2 R
Read on Congress.gov
2cosponsors1committees8actions3subjects
  1. Nov 14, 2018CalendarsH12410

    Placed on the Union Calendar, Calendar No. 801.

  2. Nov 14, 2018CommitteeH12200

    Reported by the Committee on Financial Services. H. Rept. 115-1024.

    Financial Services Committee
  3. Nov 14, 2018Committee5000

    Reported by the Committee on Financial Services. H. Rept. 115-1024.

    Financial Services Committee
  4. Jul 24, 2018Committee

    Ordered to be Reported by the Yeas and Nays: 34 - 22.

    Financial Services Committee
  5. Jul 24, 2018Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  6. May 19, 2017IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  7. May 19, 2017IntroReferralIntro-H

    Introduced in House

  8. May 19, 2017IntroReferral1000

    Introduced in House

Reported to House without amendmentNov 14, 201879

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.)

Introduced in HouseMay 19, 2017

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.)

Mortgage Fairness Act of 2017 — Informed