A bill engineered to improve access to credit and qualified mortgages for low and moderate income borrowers, while also protecting consumers from bad loans, unanimously passed Monday in the U.S. House.

The Mortgage Choice Act clarifies the qualified mortgage definition in the Dodd-Frank Act. It modifies the calculation of certain "points and fees" under the Consumer Financial Protection Bureau's qualified mortgage rule.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.