Preserving Consumers' Mortgage Origination Choices Act of 2011
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Preserving Consumer's Mortgage Origination Choices Act of 2011 - Amends the Truth in Lending Act (TILA), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to provide that no provision of TILA shall be construed as prohibiting a mortgage broker from compensating a mortgage originator based on the principal amount of the loan, when compensation is paid directly or indirectly to the mortgage broker by the consumer in connection with such transaction.
Authorizes a mortgage originator, when requested by a borrower as the originator is producing a mortgage, to forfeit or contribute toward bona fide third party expenses or origination fees up to 30% of earned compensation to avoid making a high-cost mortgage to a consumer, to make technical corrections, or for any other reason that results in a lower cost to the consumer than if such forfeiture or contribution did not take place.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 2509: Preserving Consumers' Mortgage Origination Choices Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-HR-2509/
"H.R. 2509: Preserving Consumers' Mortgage Origination Choices Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-2509/.
H.R. 2509, 112th Cong. (2026), https://openamerica.io/bill/112-HR-2509/.
[H.R. 2509: Preserving Consumers' Mortgage Origination Choices Act of 2011](https://openamerica.io/bill/112-HR-2509/)