Bipartisan bills rein in GSE CEO pay, provide formal TRID grace period

The House Financial Services Committee approved a slate of bipartisan bills directly impacting the mortgage and housing finance space Wednesday.

They now face a vote before the full House of Representatives.

“We seek to simplify the rules, reduce complexity and compliance costs.  Complicated and costly regulations serve as barriers that too often keep small competitors off the playing field,” said Chairman Jeb Hensarling, R-Texas. “With regulatory relief, we can level that playing field between big corporations and small businesses and create a healthier economy.”

Among the bills passed were:

H.R. 3192, the “Homebuyers Assistance Act”

H.R. 3192 delays enforcement of a CFPB regulation surrounding the home buying process to allow more time for the CFPB to ensure purchasers and buyers are not unfairly harmed by this new regulation.

H.R. 3192 passed 45-13.

H.R. 1210, the “Portfolio Lending…