Changes the definition of “high-cost mortgage” under the Truth in Lending Act.
Mortgage Choice Act of 2017
This bill amends the Truth in Lending Act to specify that neither escrow charges for insurance nor affiliated title charges shall be considered “points and fees” for purposes of determining whether a mortgage is a “high-cost mortgage.”
Original sponsor: Rep. Huizenga, Bill [R-MI-2]
Passed House: http://clerk.house.gov/evs/2018/roll064.xml
Related bill: HRES725 (Related bill)