Bill > S2296

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 the guarantee of single-family mortgages. The bill requires the FHFA Director to revise the "recalibrated single-family pricing framework" so that the fees charged by the enterprises are identical to the previous "standard single-family pricing framework." It also places temporary restrictions on the FHFA's ability to further adjust the single-family pricing framework and requires the FHFA to use risk-based pricing when making any 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 mandates a Government Accountability Office study to analyze the methodology, policy considerations, and economic impact of the FHFA's revisions to the single-family pricing framework.

Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/senate-bill/2296/all-info