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Bipartisan Huizenga Legislation to Help Low and Middle Income Families Passes House

Washington, February 8, 2018

Today, the House passed H.R. 1153, the Mortgage Choice Act, bipartisan legislation introduced by Congressman Bill Huizenga with a vote of 280 to 131. The Mortgage Choice Act would reform a provision of Dodd-Frank that addresses “points and fees” to help consumers, particularly low and moderate income individuals, attain a qualified mortgage and experience the benefits and convenience of one-stop shopping during the mortgage process. Congressman Huizenga is a member of the House Financial Services Committee and serves as Chairman of the Capital Markets, Securities, and Investment Subcommittee.



“Hardworking Americans utilize one-stop shopping every day,” said Chairman Huizenga. “For example, in West Michigan, we have the headquarters of Meijer. Meijer is a great regional supermarket chain where families across the Midwest go to buy groceries, pick up clothes for the kids, and purchase automotive supplies. It is a one-stop shop that allows you to do just about everything you need for your home. Purchasing a home is one of the most important decisions a family makes. Why shouldn’t they be able to take advantage of the same cost-effective convenience of one-stop shopping when buying a home?

“I, along with Rep. Gregory Meeks, re-introduced the bipartisan Mortgage Choice Act to modify and clarify the way ‘points and fees’ are calculated and help families across America one-stop shop. This legislation is narrowly focused to promote access to affordable mortgage credit without overturning the important consumer protections and sound underwriting required under Dodd-Frank's ‘ability to repay’ provisions,” said Chairman Huizenga. “These common-sense changes will help low and moderate income families as well as first-time homebuyers access affordable mortgage credit and experience the benefits of one-stop shopping by ensuring that safe, properly underwritten mortgages pass the qualified mortgage test.”

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