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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
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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.
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klr's Opinion
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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
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Elinor's Opinion
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04/16/2015
People who default on home buying need to pay attention. Don't blame the lending institutions for individuals' ignorance.
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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
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04/16/2015
Bring back the Glass-Stegal Act. It worked flawlessly for 75 years.
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Don's Opinion
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04/17/2015
Remember this "loose lending" was the root of The Great Recession we FINALLY just got out of !!!
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Annette's Opinion
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04/18/2015
We don't need another crash in this country.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed April 14th, 2015
    Roll Call Vote 286 Yea / 140 Nay
      house Committees
      Committee on Financial Services
    IntroducedFebruary 3rd, 2015

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Bill Activity

  • action
    Introduced in House
  • referral
    Referred to the House Committee on Financial Services.
  • action
    Committee Consideration and Mark-up Session Held.
  • action
    Committee Consideration and Mark-up Session Held.
  • calendar
    Ordered to be Reported by the Yeas and Nays: 43 - 12.
  • action
    Reported by the Committee on Financial Services. H. Rept. 114-54.
  • calendar
    Placed on the Union Calendar, Calendar No. 35.
  • 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.
  • action
    Considered under the provisions of rule H. Res. 189.
  • action
    DEBATE - The House proceeded with one hour of debate on H.R. 685.
  • action
    The previous question was ordered pursuant to the rule.
  • 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.
  • action
    Considered as unfinished business.
  • vote
    On passage Passed by the Yeas and Nays: 286 - 140 (Roll no. 152).
  • action
    Motion to reconsider laid on the table Agreed to without objection.
  • referral
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • 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
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed April 14th, 2015
    Roll Call Vote 286 Yea / 140 Nay
      house Committees
      Committee on Financial Services
    IntroducedFebruary 3rd, 2015

Log in or create an account to see how your Reps voted!
    Just say no to higher bank fees.
    Like (5)
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    Bring back the Glass-Stegal Act. It worked flawlessly for 75 years.
    Like (5)
    Follow
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    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)
    Follow
    Share
    If a house is still going to be a part of the American Dream, let's make it more of a reality
    Like (4)
    Follow
    Share
    Remember this "loose lending" was the root of The Great Recession we FINALLY just got out of !!!
    Like (3)
    Follow
    Share
    People who default on home buying need to pay attention. Don't blame the lending institutions for individuals' ignorance.
    Like (3)
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    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)
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    We don't need another crash in this country.
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    We learned in 2008 that such practices can be dangerous over time.
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    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.
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    Just look at the housing bubble pop! STOP helping those who can't, or won't, help themselves!
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    I am a Realtor and see many people who should get a loan. Honest people.
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    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.
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    Isn't this how we fell into the Great Recession less than a decade ago?
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    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.
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    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.
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    don't we have enough regulations as it is
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    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.
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    Here we go again. I guess we have not learned our lesson.
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    If it is still the American Dream, then people should at least have a fair shot at achievement.
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