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H.R. 4163: Preserving Consumers' Mortgage Origination Choices Act of 2012

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H.R. 4163: Preserving Consumers' Mortgage Origination Choices Act of 2012

112th Congress · introduced 2012-03-07 · Housing and Community Development · Latest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2012-03-07 · official record
  2. Who proposed it: Rep. Miller, Gary G. [R-CA-42] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on Financial Institutions and Consumer Credit. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Preserving Consumers' Mortgage Origination Choices Act of 2012

Plain summary

Preserving Consumer's Mortgage Origination Choices Act of 2012 - Amends the Truth in Lending Act with respect to the prohibitions against: (1) steering incentives in connection with residential mortgage loan origination; and (2) the restructuring of a financing origination fee, except in certain circumstances. Declares that nothing in such prohibitions shall be construed as prohibiting a mortgage originator who receives compensation directly from a consumer from compensating another mortgage originator employee, mortgage originator agent, or mortgage originator contractor based on the principal amount of the loan, provided that the amount of compensation received by such employee, agent, or contractor may not vary based on any other terms of the loan. Allows a mortgage originator, at the consumer's request, to reduce the amount of compensation the originator is receiving to offset permitted settlement charges (other than those the originator controls) that exceed the amounts previously disclosed on the good faith estimate of the settlement charges given to that consumer, provided that the originator's compensation may not increase.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Preserving Consumers' Mortgage Origination Choices Act of 2012

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Miller, Gary G. [R-CA-42] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Brad Sherman (D-CA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong112-hr4163 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112