The House Financial Services Committee recently passed H.R. 3211, a bill introduced by Rep. Huizenga (R-Mich.), that would clarify the Qualified Mortgage definition in the Dodd-Frank Act. thereby improving access to credit and Qualified Mortgages for low and moderate income borrowers while protecting consumers from bad loans. The bill would adjust the Truth in Lending Act definition of fees and points by exempting points and fees any affiliated title agency charges and escrow charges for taxes and insurance from the Qualified Mortgage cap on points and fees.
Read H.R. 3211 here: http://beta.congress.gov/bill/113th-congress/house-bill/3211/text