What is the current status of HR 53?

HR 53 is currently: Introduced.

HR 53 was sponsored by Andy Biggs (R), Rep.

Stops Increased Mortgage Credit Fees

IntroducedJanuary 3, 2025

Introduced1 year ago

Intro

House

Senate

Pres

Referred to the House Committee on Financial Services.

Why This Matters

This bill cancels proposed increases in credit fees for home mortgages, keeping costs stable for borrowers.

If you are buying a home, this bill stops new credit fees from increasing your mortgage costs.

Who this affects

homebuyers · government-backed mortgage companies

What changes is this bill making?

1This bill prevents new credit fee changes announced in January 2023 from taking effect.
2The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation will not implement these changes.
3The bill allows for risk-based pricing to continue for single-family housing mortgages.
4Homebuyers will not face higher fees due to these canceled changes.

Read the detailed summary

Responsible Borrower Protection Act of 2025This 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.

Last changed 2 months ago · checked hourly

Stops Increased Mortgage Credit Fees

IntroducedJanuary 3, 2025

Introduced1 year ago

Intro

House

Senate

Pres

Referred to the House Committee on Financial Services.

Why This Matters

This bill cancels proposed increases in credit fees for home mortgages, keeping costs stable for borrowers.

If you are buying a home, this bill stops new credit fees from increasing your mortgage costs.

Who this affects

homebuyers · government-backed mortgage companies

What changes is this bill making?

1This bill prevents new credit fee changes announced in January 2023 from taking effect.
2The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation will not implement these changes.
3The bill allows for risk-based pricing to continue for single-family housing mortgages.
4Homebuyers will not face higher fees due to these canceled changes.

Read the detailed summary

Last changed 2 months ago · checked hourly