Sides are quickly being drawn over a pending bill before the House of nRepresentatives which, if passed, will put in place some nstringent new standards for mortgage underwriting and nthe regulation and compensation of mortgage brokers.

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HR 3915 is expected to be voted on by the House nFinancial Services Committee on Tuesday, November 6. Introduced by nRepresentative Bradley Miller (D-NC) and cosponsored by 21 other members nof the House, modifies three major sections of Truth in Lending nAct (15 U.S.C. 1602), Title I deals with mortgage origination; nTitle II outlines minimum standards for mortgages, and Title III naddresses high cost mortgages…

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