Multiple industry trade groups recently wrote to every member of the U.S. House of Representatives to enact legislation that would loosen up the points-and-fees cap under the CFPB’s ability-to-repay rule and its qualified mortgage standard. At issue is the bipartisan H.R. 1153, the Mortgage Choice Act (not to be confused with the far more comprehensive, and controversial, Financial CHOICE Act). H.R. 1153 was introduced in February by Reps. Bill Huizenga, R-MI, Ed Royce, R-CA, Steve Stivers, R-OH, and David Joyce, R-OH, along with Gregory Meeks, D-NY, David Scott, D-GA, and Mike Doyle, D-PA. H.R. 1153 would revise the Truth in Lending Act Section 103(bb)(4) definition of points and fees to foster greater consumer choice in mortgage and settlement services under ...