Sec. 2. Definition of points and fees
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Section 103(bb)(4) of the Truth in Lending Act ( 15 U.S.C. 1602(bb)(4) ) is amended— by striking paragraph (1)(B) and inserting paragraph (1)(A) and section 129C ; by striking subparagraph
(B)and inserting the following: all compensation paid directly by a consumer to a mortgage originator, including a mortgage originator that is also the creditor in a table-funded transaction, but not including compensation paid by a mortgage originator or a creditor to an individual employed by the mortgage originator or creditor; ; in subparagraph (C)— by inserting and insurance after taxes ; in clause (ii), by inserting , except as retained by a creditor or its affiliate as a result of their participation in an affiliated business arrangement (as defined in section 2(7) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2602(7)) after compensation ; and by striking clause
(iii)and inserting the following: the charge is— a bona fide third-party charge not retained by the mortgage originator, creditor, or an affiliate of the creditor or mortgage originator; or a charge set forth in section 106(e)(1); ; and in subparagraph (D)— by striking accident, ; and by striking or any payments and inserting and any payments . Section 129C of the Truth in Lending Act ( 15 U.S.C. 1639c ) is amended— in subsection (a)(5)(C), by striking 103 and all that follows through or mortgage originator and inserting 103(bb)(4) ; and in subsection (b)(2)(C)(i), by striking 103 and all that follows through or mortgage originator) and inserting 103(bb)(4) .
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