Fairness in Borrowing Act: Cancelling Mortgage Fee Changes
This act aims to cancel proposed changes to credit fees for single-family home mortgages. This means that fees that were set to increase for some borrowers will remain at their current levels. However, the act does not prevent the use of risk-based pricing for these fees.
Key points
Mortgage fee increases cancelled: Planned changes that could have increased mortgage costs for some individuals will not take effect.
Risk-based pricing continues: Lenders can still set mortgage fees based on the risk associated with a borrower, meaning higher-risk individuals may pay more.
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.