Responsible Borrower Protection Act of 2023

I 118TH CONGRESS 1ST SESSION H. R. 2928 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. IN THE HOUSE OF REPRESENTATIVES APRIL 27, 2023 Mr. BIGGS (for himself, Mr. GOSAR, Mr. WEBER of Texas, Mrs. BOEBERT, Mr. PERRY, Mr. BEAN of Florida, Mr. MCCORMICK, Mr. BURLISON, Mr. YAKYM, Mr. MAST, Mr. JOHNSON of South Dakota, Mr. GROTHMAN, Mr. MOORE of Alabama, Mr. GUTHRIE, Mr. OGLES, Mr. BABIN, Mr. LAMALFA, Mr. STEWART, Mr. SELF, Mr. CARL, Mr. DONALDS, Mr. CLOUD, Mr. TIFFANY, Mr. BALDERSON, Mr. MOONEY, Mr. BISHOP of North Carolina, Mr. BRECHEEN, Mrs. LUNA, Mr. ROSENDALE, Mr. ROY, Mr. LAWLER, Mr. FRY, Mr. PALMER, Mr. FINSTAD, Mr. CARTER of Georgia, and Mr. GOOD of Virginia) introduced the following bill; which was referred to the Committee on Financial Services A BILL 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. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 VerDate Sep 11 2014 05:25 May 05, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2928.IH H2928 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 2928 IH SECTION 1. SHORT TITLE. 1 This Act may be cited as the ‘‘Responsible Borrower 2 Protection Act of 2023’’. 3 SEC. 2. CANCELLATION OF CHANGES. 4 The Federal Housing Finance Agency and the enter- 5 prises (as such term is defined in section 1303 of the Fed- 6 eral Housing Enterprises Financial Safety and Soundness 7 Act of 1992 (12 U.S.C. 4502)) may not implement the 8 changes to the single-family housing mortgage credit fee 9 pricing framework of the enterprises announced by the 10 Federal Housing Finance Agency on January 19, 2023 11 (‘‘FHFA Announces Updates to the Enterprises’ Single- 12 Family Pricing Framework’’), and set forth in Federal 13 National Mortgage Association Lender Letter LL–2023– 14 01 and Federal Home Loan Mortgage Corporation Bul- 15 letin 2023–1, and such changes, Lender Letter, and Bul- 16 letin shall have no force or effect. 17 SEC. 3. CONTINUATION OF RISK-BASED PRICING. 18 This Act may not be construed to prohibit the enter- 19 prises from applying risk-based pricing for credit fees for 20 single-family housing mortgages. 21 Æ VerDate Sep 11 2014 20:34 May 05, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H2928.IH H2928 kjohnson on DSK79L0C42PROD with BILLS