Rep. Robert Ehrlich Jr., R-Md., Thursday introduced legislation that would place a moratorium on class actions attacking lender-paid fees to mortgage brokers.
Dozens of lawsuits have been filed across the country alleging that the fees violate the Real Estate Settlement Procedures Act.
Rep. Ehrlich, a member of the House Banking Committee, said his bill would give Congress and the Department of Housing and Urban Development time to settle the issue.
The legislation, however, would not affect class actions already filed nor would it prevent lawsuits by individuals.
The bill has 15 co-sponsors, including Rep. Spencer Bachus, chairman of House Banking's general oversight and investigations subcommittee. Rep. William Lipinski of Ohio is the only Democrat currently on board.