Fairness in Borrowing Act of 2023
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.
- IntroducedApr 27, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 6
Members who signed on, in the order they did. Signatures ran from Apr 28, 2023 to May 9, 2023.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-GA | Barry Loudermilk | Apr 28, 2023 | |
| R-ND | Kelly Armstrong | Apr 28, 2023 | |
| R-SC | Nancy Mace | Apr 28, 2023 | |
| R-OK | Stephanie I. Bice | Apr 28, 2023 | |
| R-FL | W. Gregory Steube | May 2, 2023 | |
| R-NC | Chuck Edwards | May 9, 2023 |
Actions 2
Everything that happened, newest first.
- Apr 27, 2023Introduced in House
- Apr 27, 2023Referred to the House Committee on Financial Services.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2876 | 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 bill | Apr 26, 2023 |
| HR 2928 | Responsible Borrower Protection Act of 2023 | Related bill | Apr 27, 2023 |
| HR 3041 | Secure Americans from Financial Exploitation (SAFE) Act | Related bill | May 2, 2023 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Apr 27, 2023Introduced in House
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.