FOR IMMEDIATE RELEASE
NAFCU Statement on Rep.
Huizenga’s Introduction of Points-and-Fees Bill
Washington (Feb. 3, 2015) - National Association of Federal Credit Unions
(NAFCU) Vice President of Legislative Affairs
Brad Thaler issued the following statement in response to NAFCU-supported legislation introduced today
by Rep. Bill Huizenga, R-Mich., identical to last Congress’s H.R.3211, the “Mortgage Choice Act of 2013,” with strong
thank Rep. Huizenga, the bill’s cosponsors and staff for their leadership and
efforts in helping ensure that the points-and-fees definition for mortgages
doesn’t push low- and moderate-income people from obtaining QM loans from
credit unions,” said Thaler.
bill’s original cosponsors are Reps. Greg Meeks, D-NY., Ed Royce, R-Calif.,
David Scott, D-Ga., David Joyce, R-Ohio, Steve Stivers, R-Ohio, Mike Doyle, D-Penn.,
Patrick Murphy, D-Fla., Betty McCollum, D-Minn., and Stephen Fincher, R-Tenn.
legislation would adjust the Truth in Lending Act mortgage rules by exempting
from the qualified mortgage cap on points and fees any affiliated title charges
and escrow charges for taxes and insurance.
same bill from the last Congress, and backed by NAFCU, was passed by the House
in June but failed to move through the Senate.
The National Association of Federal Credit Unions is the only
national trade association that exclusively represents the interests of
federally chartered credit unions before the federal government and the
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