Fairness in Borrowing Act of 2023
This bill blocks the Federal Housing Finance Agency (FHFA) and mortgage enterprises (Fannie Mae and Freddie Mac) from implementing new single-family mortgage credit fee changes announced on January 19, 2023. It specifically cancels the fee framework updates detailed in FHFA's January 19 announcement and related lender letters (LL-2023-01 and Bulletin 2023-1). The bill does not stop mortgage enterprises from using risk-based pricing for credit fees, which remains permitted. It directly affects the FHFA's authority and the mortgage pricing structure for Fannie Mae and Freddie Mac.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2023
Committee Review
Floor Vote
President
Introduced Apr 27, 2023
Last action Apr 27, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Apr 27, 2023
Committee
Referred to the House Committee on Financial Services.
lower
Apr 27, 2023
Introduced
Introduced in House
lower
1 primary · 6 co-sponsors
Sponsors
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