To cancel certain proposed changes to loan level price adjustments by the Federal National Mortgage Association and credit fees charged by the Federal Home Loan Mortgage Corporation.

Bill: 118-hr-2876
Sponsor: full_name: Rep. Bice, Stephanie I. [R-OK-5]
Introduced: 2023-04-26
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-04-26
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-04-26
action_desc: Introduced in House
text: <p class="MsoNormal" style="line-height: normal;">This bill prohibits the Federal Housing Finance Agency, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) from implementing their January 2023-announced changes to the single-family pricing framework for fees on purchase, rate-term refinance, and cash-out refinance loans. The changes revise the fee charts that provide percentage adjustments based on a borrower's credit score and other factors.</p> <p class="MsoNormal" style="line-height: normal;"></p>

tv_txt: I 118th CONGRESS 1st Session H. R. 2876 IN THE HOUSE OF REPRESENTATIVES April 26, 2023 Mrs. Bice (for herself, Mr. Meuser , Mr. Donalds , Mr. Mills , Mr. Edwards , Mr. Alford , Mr. Fallon , Mr. Duncan , Mr. Kelly of Mississippi , Mr. Norman , and Ms. Greene of Georgia ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To cancel certain proposed changes to loan level price adjustments by the Federal National Mortgage Association and credit fees charged by the Federal Home Loan Mortgage Corporation.

1. Cancellation of changes The Federal Housing Finance Agency and the enterprises, as defined in section 1303 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4502 ), may not implement the changes to the single-family pricing framework announced by the Federal Housing Finance Agency on January 19, 2023, in an announcement entitled FHFA Announces Updates to the Enterprises’ Single-Family Pricing Framework , and set forth in Federal National Mortgage Association Lender Letter LL–2023–01 and Federal Home Loan Mortgage Corporation Bulletin 2023–1, and the changes, Lender Letter, and Bulletin shall have no force or effect.