Bill > HR258

This bill aims to cancel specific proposed changes to loan pricing and credit fees that were announced by the Federal Housing Finance Agency (FHFA) on January 19, 2023. Specifically, the bill would prevent the implementation of pricing framework updates outlined in two documents: the Federal National Mortgage Association (Fannie Mae) Lender Letter LL-2023-01 and the Federal Home Loan Mortgage Corporation (Freddie Mac) Bulletin 2023-1. By blocking these changes, the bill would nullify the proposed modifications to loan level price adjustments and credit fees, effectively rendering the announced updates void and preventing their implementation. The bill targets regulations that could potentially impact mortgage lending practices and costs for borrowers, with the intent of maintaining the existing pricing framework for single-family home loans. The legislation would apply to the housing enterprises as defined in the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, giving the FHFA and the associated mortgage entities clear instruction to abandon the proposed changes.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/258/all-info