Never underestimate a determined opponent. On September 28, 2013, shortly before Congress shut down, a bipartisan group of representatives from the House Financial Services Committee introduced a RESPRO-sponsored piece of legislation known as H.R. 3211, the Mortgage Choice Act.  Instead of proceeding on H.R. 1077, known as the Consumer Mortgage Choice Act, the new bill strips out the provisions regarding lender-paid compensation to mortgage brokers and loan level price adjustments charged by Fannie Mae and Freddie Mac and focuses solely on the naked attempt by the affiliated business arrangement lobby to except affiliated service charges from the 3% qualified mortgage cap.  H.R. 1077 is effectively dead, but in its place is proof that the affiliate provider’s efforts were never about the American consumer — but rather only for the benefit of banks and affiliated service providers supported by RESPRO.

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