Rep. Bill Huizenga, R-MI, chairman of the House Financial Services Subcommittee on Monetary Policy and Trade, recently re-introduced the Mortgage Choice Act, the points-and-fees legislation, with some bipartisan support, which could help ease concern at a White House wary of Republican efforts to scale back the powers of the CFPB. The measure would exempt from the qualified mortgage 3 percent cap on points and fees any affiliated title charges and escrow charges for taxes and insurance. Huizenga’s bill also would exclude lender-paid compensation to a bank in a wholesale transaction from the 3 percent cap.“Hardworking families across the nation should not be denied access to a qualified mortgage because of technicalities that are largely out of their control,” said ...