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H.R. 3211: Mortgage Choice Act of 2013

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H.R. 3211: Mortgage Choice Act of 2013

113th Congress · introduced 2013-09-28 · Housing and Community Development · Latest: Received in the Senate.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2013-09-28 · official record
  2. Who proposed it: Rep. Huizenga, Bill [R-MI-2] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Received in the Senate. 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

Mortgage Choice Act of 2013

Plain summary

(This measure has not been amended since it was introduced. The summary of that version is repeated here, with an updated short title.) Mortgage Choice Act of 2014 - (Sec. 2) Amends the Truth in Lending Act with respect to requirements for disclosure to a consumer of points and fees information about a consumer credit transaction, secured by the consumer's principal dwelling, but which is not a residential mortgage transaction, a reverse mortgage transaction, or a transaction under an open end credit plan, when the total points and fees the consumer must pay at or before closing will exceed 8% of the total loan amount or $400, whichever is greater. (Such consumer credit transactions might include an equity credit line to which consumer purchases or leases may be charged.) Excludes from the computation of such points and fees any escrow for future payment of insurance. Modifies the criteria for exclusion from the computation of points and fees of certain reasonable charges elsewhere exempted from the computation of the finance charge in extensions of credit secured by an interest in real property. Excludes from points and fees any such reasonable charges even though a creditor receives compensation, but only in so far as the creditor or its affiliate retains the compensation as a result of their participation in an affiliated business arrangement. (An "affiliated business arrangement" is one in which: (1) a person who is in a position to refer business incident to or a part of a real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct or beneficial ownership interest of more than 1% in a provider of settlement services; and (2) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the provider's selection.) Revises the additional requirement that such a reasonable charge be paid to a third party unaffiliated with the creditor. Requires the charge to be: (1) a bona fide third party charge not retained by the mortgage originator, creditor, or an affiliate; or (2) a fee or premium for title examination, title insurance, or similar purposes. Modifies the conditions under which federal departments and agencies may exempt refinancings under a streamlined refinancing from an income verification requirement that, at the time a refinancing is consummated, the consumer has a reasonable ability to repay the loan and all applicable taxes, insurance, and assessments. Repeals the exception for bona fide third party charges not retained by the mortgage originator, creditor, or an affiliate from the requirement that total points and fees not exceed 3% of the total new loan amount. (Thus subjects such charges to the same 3% ceiling.)

Congressional Research Service summary (Passed House without amendment), 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

Mortgage Choice Act of 2013

Source: Congressional Research Service summary (Passed House without amendment)

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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. Huizenga, Bill [R-MI-2] · 51 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Gregory W. Meeks (D-NY), Gary C. Peters (D-MI), Betty McCollum (D-MN), Andy Barr (R-KY), Tim Walberg (R-MI), Emanuel Cleaver (D-MO), David P. Joyce (R-OH), Roger Williams (R-TX), Brett Guthrie (R-KY), Steve Womack (R-AR), Tom Cotton (R-AR), Henry Cuellar (D-TX), Ann Wagner (R-MO)

Sponsor's campaign money: Rep. Huizenga, Bill [R-MI-2] reported raising $5.6 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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.

Words on this page, explained (1)
Exemption
A rule that removes certain people, property or activities from a tax or requirement.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong113-hr3211 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113