summary
Introduced
04/27/2023
04/27/2023
In Committee
04/27/2023
04/27/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To cancel certain proposed changes to credit fees charged by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, and for other purposes.
AI Summary
This bill, the Fairness in Borrowing Act of 2023, cancels the changes to the single-family housing mortgage credit fee pricing framework announced by the Federal Housing Finance Agency (FHFA) on January 19, 2023. The bill prohibits the FHFA and the government-sponsored enterprises (Fannie Mae and Freddie Mac) from implementing these proposed changes, which would have increased certain credit fees. However, the bill does not prohibit the enterprises from continuing to apply risk-based pricing for credit fees on single-family housing mortgages.
Committee Categories
Business and Industry
Sponsors (7)
Mike Lawler (R)*,
Kelly Armstrong (R),
Stephanie Bice (R),
Chuck Edwards (R),
Barry Loudermilk (R),
Nancy Mace (R),
Greg Steube (R),
Last Action
Referred to the House Committee on Financial Services. (on 04/27/2023)
Bill Topics
Community Development and Housing Issues
- ‐ Housing and Real Estate Finance
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/2960/all-info | 04/28/2023 |
| BillText | https://www.congress.gov/118/bills/hr2960/BILLS-118hr2960ih.pdf | 05/10/2023 |
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