118th Congress · HOUSE BILLBILL

H.R. 2960Fairness in Borrowing Act of 2023

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.

Finance and financial sector
Introduced Apr 27, 2023
Last action Apr 27, 2023
Pipeline · Bill → Law
Step 1
Introduced
Apr 27, 2023
Step 2
Referred
Apr 27, 2023
Financial Services
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

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.

Provisions · 3 sectionsIntroduced in House
Timeline · 2 actions
Apr 27, 2023
Introduced in House
Apr 27, 2023
Referred to the House Committee on Financial Services.