Bill > HR3564

This bill, the Middle Class Borrower Protection Act of 2023, aims to cancel recent changes made by the Federal Housing Finance Agency (FHFA) to the up-front loan-level pricing adjustments charged by Fannie Mae and Freddie Mac (the enterprises) for guaranteeing single-family mortgages. The bill requires the FHFA Director to revise the recalibrated single-family pricing framework within 60 days to match the fees in effect before May 1, 2023. It also imposes a temporary prohibition on further adjustments to the single-family pricing framework and requires the FHFA to follow administrative procedures when proposing future adjustments. Additionally, the bill prohibits the FHFA and the enterprises from imposing loan-level pricing adjustments based on the debt-to-income ratio of the mortgagor. Finally, the bill requires a Government Accountability Office (GAO) study on the revisions to the single-family pricing framework, including their impact on various classes of lenders and borrowers, as well as on affordable housing preservation, rural housing, and manufactured housing.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/house-bill/3564/all-info