WASHINGTON, DC – April 14, 2015 – (RealEstateRama) — House Speaker John Boehner (R-OH) today issued the following statement after the House passed two bills aimed at making it easier for Americans to obtain affordable housing and achieve financial independence:
“These bipartisan bills are part of House Republicans’ continued focus on the American people’s priorities. Affordable housing is vital for low and middle income families and workers, but far too often, Washington’s regulatory overreach and red tape gets in the way of their American dream. By increasing access and promoting choice for consumers, this legislation will help more hardworking Americans get ahead and achieve financial independence.”
NOTE: According to the House Committee on Financial Services:
- H.R. 650, the Preserving Access to Manufactured Housing Act, sponsored by Rep. Stephen Fincher (R-TN), amends the Truth in Lending Act, as modified by the Dodd-Frank Act, to ensure that consumers can continue to have access to affordable manufactured housing by altering the definition of a “high-cost mortgage.”
- H.R. 685, the Mortgage Choice Act, sponsored by Rep. Bill Huizenga (R-MI), provides clarity to the calculation of points and fees in mortgage transactions, allowing more loans to be classified as Qualified Mortgages and increasing options for borrowers.