summary
Introduced
01/03/2025
01/03/2025
In Committee
01/03/2025
01/03/2025
Crossed Over
Passed
Dead
Introduced Session
119th 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 aims to cancel specific proposed changes to mortgage credit fees that were announced by the Federal Housing Finance Agency (FHFA) on January 19, 2023, for Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation). Specifically, the bill would nullify the changes outlined in Lender Letter LL-2023-01 and Bulletin 2023-1, effectively preventing these two government-sponsored enterprises from implementing the proposed updates to their single-family housing mortgage credit fee pricing framework. The legislation explicitly maintains that the enterprises can still use risk-based pricing for credit fees, which means they can continue to adjust mortgage pricing based on individual borrower risk factors. The bill, named the "Responsible Borrower Protection Act of 2025", would prevent the implementation of these fee changes and ensure that the previously announced modifications have no legal standing or effect.
Committee Categories
Business and Industry
Sponsors (8)
Andy Biggs (R)*,
Mike Bost (R),
Eric Burlison (R),
Ben Cline (R),
Michael Cloud (R),
Byron Donalds (R),
Andy Ogles (R),
Randy Weber (R),
Last Action
Referred to the House Committee on Financial Services. (on 01/03/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/53/all-info |
| BillText | https://www.congress.gov/119/bills/hr53/BILLS-119hr53ih.pdf |
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