Fairness in Borrowing Act of 2023

Summary

Fairness in Borrowing Act of 2023 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.

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Timeline

1. 27 April 2023

   Introduced

   Introduced in House

   Source: IntroReferral

2. 27 April 2023

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

3. 27 April 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 27 April 2023 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 April 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 April 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 April 2023

  Open at official source

Sponsors

• Rep. Lawler, Michael [R-NY-17] · R · Sponsor
• Kelly Armstrong · R · Cosponsor
• Stephanie Bice · R · Cosponsor
• Barry Loudermilk · R · Cosponsor
• Nancy Mace · R · Cosponsor
• W. Steube · R · Cosponsor
• Chuck Edwards · R · Cosponsor
• · hsba00 · Standing

Related records

• related to → 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.
• related to → Responsible Borrower Protection Act of 2023
• related to ← Secure Americans from Financial Exploitation (SAFE) Act