Where do you stand?

house Bill H.R. 685

Changing how Points and Fees are Calculated and Applied for Qualified Mortgages

Argument in favor

Improves access to credit and qualified mortgages for low- and middle-income borrowers. More people would have access to a qualified mortgage, and this would in turn, be a step toward the revitalization of the U.S. housing market.

Dean's Opinion

···

04/15/2015

We will never get the economy on the right road without the housing market having a banner year. Rents are increasing monumentally, and the middle class cannot save.

Like (4)

klr's Opinion

···

04/17/2015

If a house is still going to be a part of the American Dream, let's make it more of a reality

Like (4)

Elinor's Opinion

···

04/16/2015

People who default on home buying need to pay attention. Don't blame the lending institutions for individuals' ignorance.

Like (3)

Argument opposed

This bill weakens mortgage reform, undermines consumer protection, and incentivizes lenders to steer families into high-risk, high-fee loans that they don't understand and can't afford, effectively recreating one of the catalysts for the 2007-08 financial crisis.

Clark's Opinion

···

04/16/2015

Bring back the Glass-Stegal Act. It worked flawlessly for 75 years.

Like (5)

Don's Opinion

···

04/17/2015

Remember this "loose lending" was the root of The Great Recession we FINALLY just got out of !!!

Like (3)

Annette's Opinion

···

04/18/2015

We don't need another crash in this country.

Like (3)

bill Progress

Not enacted
The President has not signed this bill
The senate has not voted
The house Passed April 14th, 2015
Roll Call Vote 286 Yea / 140 Nay
IntroducedFebruary 3rd, 2015

Bill Activity

02/03/2015
action
Introduced in House
02/03/2015
referral
Referred to the House Committee on Financial Services.
03/25/2015
action
Committee Consideration and Mark-up Session Held.
03/26/2015
action
Committee Consideration and Mark-up Session Held.
03/26/2015
calendar
Ordered to be Reported by the Yeas and Nays: 43 - 12.
04/06/2015
action
Reported by the Committee on Financial Services. H. Rept. 114-54.
04/06/2015
calendar
Placed on the Union Calendar, Calendar No. 35.
04/13/2015
action
Rules Committee Resolution H. Res. 189 Reported to House. Resolution provides for consideration of 3 measures: H.R. 650; H.R. 685; and S. Con. Res. 11.
04/14/2015
action
Considered under the provisions of rule H. Res. 189.
04/14/2015
action
DEBATE - The House proceeded with one hour of debate on H.R. 685.
04/14/2015
action
The previous question was ordered pursuant to the rule.
04/14/2015
action
POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 685, the Chair put the question on adoption of the bill, and by voice vote announced that the ayes had prevailed. Ms. Waters (CA) demanded the yeas and nays, and the Chair postponed further proceedings on adoption until later in the legislative day.
04/14/2015
action
Considered as unfinished business.
04/14/2015
vote
On passage Passed by the Yeas and Nays: 286 - 140 (Roll no. 152).
04/14/2015
action
Motion to reconsider laid on the table Agreed to without objection.
04/15/2015
referral
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
04/16/2015
hearings
Committee on Banking, Housing, and Urban Affairs. Hearings held.

bill Progress

Not enacted
The President has not signed this bill
The senate has not voted
The house Passed April 14th, 2015
Roll Call Vote 286 Yea / 140 Nay
IntroducedFebruary 3rd, 2015

Bill Data

Issues

Committees

Committee on Financial Services
Committee on Banking, Housing, and Urban Affairs

Sponsor

Rep Bill Huizenga

(R - MI)

37 Cosponsors

Introduced 02/03/2015

Full text of Bill

Cary's Opinion Against

···

04/17/2015

Just say no to higher bank fees.

Like (5)

Clark's Opinion Against

···

04/16/2015

Bring back the Glass-Stegal Act. It worked flawlessly for 75 years.

Like (5)

Dean's Opinion In Favor

···

04/15/2015

We will never get the economy on the right road without the housing market having a banner year. Rents are increasing monumentally, and the middle class cannot save.

Like (4)

klr's Opinion In Favor

···

04/17/2015

If a house is still going to be a part of the American Dream, let's make it more of a reality

Like (4)

Don's Opinion Against

···

04/17/2015

Remember this "loose lending" was the root of The Great Recession we FINALLY just got out of !!!

Like (3)

Elinor's Opinion In Favor

···

04/16/2015

People who default on home buying need to pay attention. Don't blame the lending institutions for individuals' ignorance.

Like (3)

Taret's Opinion In Favor

···

04/16/2015

The housing market is one of the key indicators of the economic recovery our nation is experiencing. Helping low and middle income class citizens will in turn facilitate this.

Like (3)

Annette's Opinion Against

···

04/18/2015

We don't need another crash in this country.

Like (3)

DavidCombs's Opinion Against

···

04/17/2015

We learned in 2008 that such practices can be dangerous over time.

Like (2)

GraysonMask's Opinion Against

···

08/27/2016

I'm all for the free market and the voluntary contract between a lender and borrower, so the government shouldn't try to incentivize companies to lend more to families with bad credit history. We all have seen in the past how this terrible lending policy leads to bubbles and then collapses. We have to forget about the concept that owning a home is the American dream and ideal lifestyle, because forcing this on low-income families with no steady income actually drives them further into poverty.

Like (2)

Maria's Opinion Against

···

04/18/2015

Just look at the housing bubble pop! STOP helping those who can't, or won't, help themselves!

Like (2)

Sandy's Opinion In Favor

···

04/17/2015

I am a Realtor and see many people who should get a loan. Honest people.

Like (1)

Jedadiah's Opinion Against

···

12/11/2016

This is crap. This is the exact reason the housing market sucks today. People who shouldn't be eligible for a morgage were given an exeption then, when they couldn't pay back the loan because they do not have the economical means to the list the house.

Like (1)

Leo's Opinion Against

···

11/30/2015

Isn't this how we fell into the Great Recession less than a decade ago?

ArcherBroadmeadow's Opinion Against

···

04/19/2015

Repeal the mortgage deduction. It's a sap to home builders. They are no different than any other industry. Besides, it's unfair to renters.

Andrew's Opinion Against

···

04/16/2015

Home ownership is not a prerequisite for financial success. Why dont they create these same standards for other common credit risks, cars, boats, credit cards etc that tend to weigh down consumers in the process of purchasing a home in the first place.

Michael w's Opinion Against

···

05/26/2015

don't we have enough regulations as it is

Scott's Opinion Against

···

06/02/2015

Make residential rent payments tax deductible at the same rate as a mortgage payment. That's the single biggest thing congress could do to improve income inequality. And republicans shod get behind it as it "lowers taxes" even if is in a progressive way. And it doesn't run the risk of another housing crash.