WHAT THE LAW DOINCongress, in plain words

H.R. 258 · 119th Congress

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.

IntroducedFinance and Financial Sector
IntroducedJan 9, 2025
Passed HouseNot yet
Passed SenateNot yet
To PresidentNot yet
Became lawNot yet

What it does

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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.

Official summary by the Congressional Research Service (Introduced in House, Jan 9, 2025).

Our plain-language breakdown, with what it means for you and the case for and against, is written once a bill starts to move.

What has happened

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  1. 2025-01-09Introduced in HouseLibrary of Congress

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