For the second consecutive year, the Mortgage Choice Act breezed through approval from the House Financial Services Committee and awaits a vote from the full House.
The bill, which excludes from the calculation of points and fees insurance and taxes held in escrow and fees paid to affiliated companies as a result of their participation in an affiliated business arrangement, passed the full House last session but was not voted upon in the Senate.
Read on for details on the bill from its primary sponsor, Rep. Bill Huizenga (R-Mich.).
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