NAR Letter to full house urging a vote for HR 3211
Issue Date: June 06, 2014
US HR 3211 - Mortgage Choice Act of 2013
NAR Letter to full house urging a vote for HR 3211. H.R. 3211 endeavors to restore a competitive market among lenders by clarifying and rationalizing the definition of fees and points to reduce the discrimination against mortgage firms with affiliates in the calculation of fees and points under the Qualified Mortgage (QM) rule. By doing so, H.R. 3211 will ensure that consumers have greater access to mortgage credit and also more choices in credit providers. Without H.R. 3211, both choice and access is reduced, affecting many consumers and those who serve them.