Sponsors (8)
The bill preserves current mortgage fee structures and market predictability—protecting many homeowners and lenders from immediate cost or disruption—but reduces regulator flexibility and keeps higher fees for riskier borrowers, shifting costs onto vulnerable homebuyers and potentially increasing taxpayer exposure.
Homebuyers and current homeowners keep existing single‑family mortgage fee structures and avoid immediate higher upfront costs.
Lower‑risk, creditworthy borrowers can continue to receive lower credit fees because enterprises may keep risk‑based pricing, reducing costs for many prospective buyers.
Lenders and mortgage servicers retain regulatory predictability and incentives to price risk, which supports mortgage market liquidity and smoother market functioning.
Taxpayers and the broader public may face greater financial exposure because the FHFA's ability to adjust pricing to reflect credit risk is limited, constraining regulators' tools to protect GSE financial stability.
Low‑income and marginalized prospective buyers will face continued higher fees or reduced access because risk‑based pricing keeps costs higher for borrowers with lower credit scores, worsening affordability and equity.
The bill shifts more cost burden onto individual borrowers (especially higher‑risk borrowers) rather than spreading risk across the market or taxpayers, increasing variability and financial strain for households.
Based on analysis of 3 sections of legislative text.
Blocks FHFA and the GSEs from implementing the Jan 19, 2023 single-family mortgage credit-fee pricing updates and voids the related FHFA/Fannie/Freddie documents while allowing risk-based pricing to continue.
Prevents the Federal Housing Finance Agency (FHFA) and the government-sponsored enterprises (GSEs) from carrying out the single-family mortgage credit fee pricing changes announced on January 19, 2023, and declares those FHFA/Fannie Mae/Freddie Mac documents void. It does not stop the GSEs from using risk-based pricing generally for credit fees on single-family mortgages, so risk-based fees may continue under the prior framework.
Introduced January 3, 2025 by Andrew S. Biggs · Last progress January 3, 2025