Rep. Fitzgerald Introduces Bill to Speed Up Mortgage Approvals and Limit Lender Penalties
This bill is in the early stages of the legislative process and is sitting with the House Committee on Financial Services. The committee must review the bill before it can move forward, but no action has occurred since June 24, 2026. Most bills do not receive a committee vote, so this proposal is currently stalled.
While the bill aims to simplify the process, it faces opposition from consumer groups who worry about weakening protections. It currently lacks the broad bipartisan support needed to pass.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Anyone taking out a mortgage would face looser rules on how accurate lenders' cost estimates need to be, with a new $500 or 5% cushion on closing costs and a 0.125 percentage point cushion on interest rate accuracy. This could speed up closings and reduce paperwork delays, but it also means small errors that used to count as violations no longer do, and lenders get new legal shields (safe harbors, a 60-day fix-it window, and protection from settlement agent mistakes) that make it harder for buyers to hold them accountable, even though restitution rights are technically preserved.
“a creditor shall be deemed to have provided a good faith loan estimate of closing costs if the aggregate amount of closing costs the borrower must pay at consummation does not exceed the aggregate amount disclosed under subsection (a)(17) by more than the greater of-- ``(i) $500; or ``(ii) 5 percent of all third-party fees and charges, excluding origination charges.”
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
The Home Affordability Through Mortgage Simplification Act would simplify portions of the TRID framework by providing relief for certain technical disclosure errors that do not materially harm consumers but can create compliance burdens and delay closings.
Congressman Scott Fitzgerald introduced the Home Affordability Through Mortgage Simplification Act to reduce unnecessary closing delays and lower compliance uncertainty, aiming to make the mortgage process less costly and frustrating for homebuyers.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Home Affordability Through Mortgage Simplification Act
Analysis generated by AI. Always verify with official sources.