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Congress needs to get it right this time.

NAR President Gary Thomas testified recently on Capitol Hill, urging Congress to change the 3% cap on points and fees in the Qualified Mortgage rule that takes effect in 2014. He asked them to instead pass the Consumer Mortgage Choice Act, legislation essential to maintain competition and choice in mortgage origination - legislation that keeps homeownership affordable. Watch Gary's latest podcast.

 

http://www.realtor.org/videos/keeping-mortgages-affordable?om_rid=AAFHy8&om_mid=_BRzLE0B8ziZVIf&om_ntype=NARWeekly

 

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