What This Bill Does · Plain English
Summary · Congress.gov
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 changes to the single-family home loan pricing framework for upfront fees on certain home loans, announced in January 2023. The changes revise the fee charts that provide percentage adjustments based on a borrower's credit score and other risk factors. Overall, these changes increase the percentage adjustments, with variations based on the particular risk profile of the loan.
Action Timeline
2025-01-09
Referred to the House Committee on Financial Services.
2025-01-09
Introduced in House
2025-01-09
Introduced in House
Frequently Asked Questions
Did HR.258 pass?
HR.258 is still alive. Current stage: COMMITTEE. Pass likelihood: 38%.
What does HR.258 do?
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 changes to the single-family home loan pricing framework for upfront fees on certain home loans, announced in January 2023. The changes revise the fee charts that provide percentage adjustments based on a borrower's credit score and other risk factors. Overall, these changes increase the percentage adjustments, with variations based on the particular risk profile of the loan.
Who sponsored HR.258?
HR.258 was sponsored by Stephanie I. Bice (R-Oklahoma).
Full Bill Text
119 HR 258 IH: 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. U.S. House of Representatives 2025-01-09 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 258 IN THE HOUSE OF REPRESENTATIVES January 9, 2025 Mrs. Bice introduced the following bill; which was referred to the Committee on Financial Services A BILL 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. 1. Cancellation of changes The Federal Housing Finance Agency and the enterprises, as defined in section 1303 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4502 ), may not implement the changes to the single-family pricing framework announced by the Federal Housing Finance Agency on January 19, 2023, in an announcement entitled FHFA Announces Updates to the Enterprises’ Single-Family Pricing Framework , and set forth in Federal National Mortgage Association Lender Letter LL–2023–01 and Federal Home Loan Mortgage Corporation Bulletin 2023–1, and the changes, Lender Letter, and Bulletin shall have no force or effect.
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