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HR 2509 112th Congress House Housing and Community Development Banking and financial institutions regulation Housing finance and home ownership Wages and earnings

Preserving Consumers' Mortgage Origination Choices Act of 2011

Introduced: July 13, 2011 See on congress.gov
This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 22, 2011
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Jul 13, 2011
Referred to the House Committee on Financial Services.
Jul 13, 2011
Introduced in House
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 Plain-English summary Congressional Research Service

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.

What's happening now August 22, 2011

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
Cite this page click to expand
APA
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/
MLA
"H.R. 2509: Preserving Consumers' Mortgage Origination Choices Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-2509/.
Bluebook (legal)
H.R. 2509, 112th Cong. (2026), https://openamerica.io/bill/112-HR-2509/.
Markdown link
[H.R. 2509: Preserving Consumers' Mortgage Origination Choices Act of 2011](https://openamerica.io/bill/112-HR-2509/)
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