Last week, the House Financial Services Committee approved several bills that would override the CFPB on some of its key mortgage-related rulemakings. The voting included the passage of H.R. 1153, the Mortgage Choice Act of 2017, which would exclude from the ability-to-repay calculation of points and fees insurance and taxes held in escrow and fees paid to affiliated companies as a result of their participation in an affiliated business arrangement. The bill passed by a recorded vote of 46 ayes and 13 nays. Jaret Seiberg, an analyst with Cowen Washington Research Group, said in a client note, “This would permit lenders to work with affiliate title insurers without worrying about the points-and-fees cap.” Another measure that survived the legislative gauntlet ...