Mortgage Choice Act of 2015
Sponsor: Bill Huizenga (R-MI)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Mortgage Choice Act of 2015 (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.
Housing and Community Development Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 2.0% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 286 | 65.6% |
| Nay | Lost | 140 | 32.4% |
| Not represented on this question | No position taken | 0 | 2.0% |