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House Committee approves Mortgage Choice Act

financial choice act Passes House Financial Services Committee 5/4/2017 4:52 PM The comprehensive financial legislation, which centers on the funding and leadership of the CFPB, will now move forward for consideration by the full House of Representatives.

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The House Financial Services Committee on Thursday passed the Financial. in the ongoing landmark federal court case between PHH Mortgage and the CFPB. In addition, the CHOICE Act, if approved,

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 · WASHINGTON, DC – Congressman Wm. Lacy Clay (D) Missouri, a senior member of the House Financial Services Committee and Ranking Member of the Subcommittee on Domestic & International Monetary Policy and Technology is cosponsoring H.R. 1077, the Consumer Mortgage Choice Act.

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Chuck Cross, CSBS on behalf of the State Liaison Committee. Darlene Callis, Senior Program Adminstrator and Moderator, FFIEC. broker-originated loans, as well as mortgage loans purchased from a correspondent. A copy of the loan approval package, with documents prepared in the name of the financial institution,

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Current Legislation, All Legislation, All Sources, –, Committee Reports.. All Information (Except Text) for H.R.10 – Financial CHOICE Act of 2017115th Congress.. H.R.1153, Mortgage Choice Act of 2017, Related bill, CRS, 02/12/ 2018. 332) The bill establishes procedures for congressional approval of major rules.

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By a vote of 34-26 along party lines, the House Financial Services Committee approved the "Financial CHOICE Act of 2017" (H.R. 10) (the "CHOICE Act"). The Republican-backed plan made a number of changes to Dodd-Frank and to various aspects of U.S. financial regulation.

The Rules Committee is a committee of the United States House of Representatives responsible for determining under what rule other Committee’s bills will come to the floor. The Committee decides for how long and under what rules the full body will debate Bills.

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The House Financial Services Committee passed the Financial CHOICE Act (H.R. 10) in a 34-26 vote along party lines. The legislation is designed to put the Consumer Financial Protection Bureau (CFPB) under Congress’ oversight and add new limits to its enforcement authority.