The Republican-led House of Representatives passed the Mortgage Choice Act of 2015, sponsored by Rep. Bill Huizenga (R-Mich.), in a 286 to 140 vote.

The legislation, supported by CUNA and NAFCU, would adjust the definition of points and fees under the Truth in Lending Act as applied in the CFPB's qualified mortgage rule.

"A qualified mortgage is the gold standard of home loans. Hardworking families should not be denied access to a qualified mortgage because of technicalities that are largely out of their control," Huizenga said after the vote on Tuesday evening. "The Mortgage Choice Act enacts commonsense reforms to Dodd Frank making it possible for low and middle income families to achieve a portion of the American Dream.  I am glad to see strong bipartisan support for the effort to make homeownership an attainable goal."

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