U.S. Representative Ed Royce

U.S. Representative Ed Royce (R-Calif.) released the following statement on the successful passage of the Mortgage Choice Act (H.R. 3211) by the U.S. House of Representatives:

“Owning a home has long been the cornerstone of the American Dream, but regulations currently restrict consumer access to mortgage credit for low and moderate income homebuyers. The Mortgage Choice Act will ensure that potential homeowners can borrow funds for their home in a responsible manner while keeping intact consumer protections established by Dodd-Frank’s ability to pay provisions,” said Rep. Royce. “I urge my colleagues in the Senate to take action on this bipartisan legislative initiative in order to create an accessible and robust housing market for all Americans.”

Introduced by U.S. Representative Bill Huizenga (R-Mich.), the Mortgage Choice Act would amend and clarify the qualified mortgage definition in the Dodd-Frank Act to improve access to credit and qualified mortgages for low and moderate income borrowers. Rep. Royce is an original cosponsor of the bill, which passed the U.S. House of Representatives by voice vote on June 9, 2014.

For more information, contact Saat Alety at Saat.Alety@mail.house.gov or (202) 225-4111.