HR 2928 · 118th Congress 2023–2025, ended

Responsible Borrower Protection Act of 2023

Introduced Apr 27, 2023 Originated House Sponsor Andy Biggs R-AZ

Fact sheet Spreadsheet

Latest action · Apr 27, 2023 Referred to the House Committee on Financial Services.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedApr 27, 2023
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Responsible Borrower Protection 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.

Cosponsors 45

Members who signed on, in the order they did. Signatures ran from Apr 27, 2023 to Jun 5, 2023; 35 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
R-FLAaron BeanOriginalApr 27, 2023
R-WVAlexander X. MooneyOriginalApr 27, 2023
R-TNAndrew OglesOriginalApr 27, 2023
R-FLAnna Paulina LunaOriginalApr 27, 2023
R-ALBarry MooreOriginalApr 27, 2023
R-VABob GoodOriginalApr 27, 2023
R-MNBrad FinstadOriginalApr 27, 2023
R-KYBrett GuthrieOriginalApr 27, 2023
R-TXBrian BabinOriginalApr 27, 2023
R-FLBrian J. MastOriginalApr 27, 2023
R-FLByron DonaldsOriginalApr 27, 2023
R-TXChip RoyOriginalApr 27, 2023
R-UTChris StewartOriginalApr 27, 2023
R-NCDan BishopOriginalApr 27, 2023
R-CADoug LaMalfaOriginalApr 27, 2023
R-SDDusty JohnsonOriginalApr 27, 2023
R-GAEarl L. "Buddy" CarterOriginalApr 27, 2023
R-MOEric BurlisonOriginalApr 27, 2023
R-ALGary J. PalmerOriginalApr 27, 2023
R-WIGlenn GrothmanOriginalApr 27, 2023
R-ALJerry L. CarlOriginalApr 27, 2023
R-OKJosh BrecheenOriginalApr 27, 2023
R-TXKeith SelfOriginalApr 27, 2023
R-COLauren BoebertOriginalApr 27, 2023
R-MTMatthew M. Rosendale, Sr.OriginalApr 27, 2023
R-TXMichael CloudOriginalApr 27, 2023
R-NYMichael LawlerOriginalApr 27, 2023
R-AZPaul A. GosarOriginalApr 27, 2023
R-TXRandy K. Weber, Sr.OriginalApr 27, 2023
R-GARichard McCormickOriginalApr 27, 2023
R-INRudy Yakym IIIOriginalApr 27, 2023
R-SCRussell FryOriginalApr 27, 2023
R-PAScott PerryOriginalApr 27, 2023
R-WIThomas P. TiffanyOriginalApr 27, 2023
R-OHTroy BaldersonOriginalApr 27, 2023
R-GAAndrew S. ClydeMay 5, 2023
R-WYHarriet M. HagemanMay 5, 2023
D-NJJefferson Van DrewMay 5, 2023
R-WACathy McMorris RodgersMay 11, 2023
R-ILMike BostMay 11, 2023
R-MNMichelle FischbachMay 15, 2023
R-PALloyd SmuckerMay 17, 2023
R-ALDale W. StrongMay 22, 2023
R-VABen ClineMay 25, 2023
R-AZDebbie LeskoJun 5, 2023

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseFinancial Services Committee
Referred Apr 27, 2023

Actions 2

Everything that happened, newest first.

  1. Apr 27, 2023Introduced in House
  2. Apr 27, 2023Referred to the House Committee on Financial Services.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article 1, Section 8 The single subject of this legislation is: The single subject of this bill is to cancel certain proposed changes to credit fees charged by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.

The sponsor’s statement, as printed in the Congressional Record, vol. 169, no. 71, April 27, 2023, page H2086.

Related bills 3

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
HR 2876To 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 billApr 26, 2023
HR 2960Fairness in Borrowing Act of 2023Related billApr 27, 2023
HR 3041Secure Americans from Financial Exploitation (SAFE) ActRelated billMay 2, 2023

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced
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.
Short Title(s) as Introduced
Responsible Borrower Protection Act of 2023

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 1

Each version as it was printed, newest first.

  1. Apr 27, 2023Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.