Reverses 2023 changes to Fannie Mae and Freddie Mac mortgage fees

§1What it does

Why this matters: A plain-English description of the bill as it was voted on, written by us from the official summary and text.

✎ Drafted by AI from the public sources cited. Each sentence links to its source.

This bill would undo the Federal Housing Finance Agency's (FHFA) changes, effective May 1, 2023, to the fees Fannie Mae and Freddie Mac charge on conventional single-family mortgages based on a borrower's credit score and down payment, and would restore the fee charts used before that date.^2,3 It would bar further changes to those fees until 90 days after the Government Accountability Office reports on the 2023 changes, and after that would require the FHFA to follow the standard federal rulemaking process, including public notice and comment, and to base fee changes on risk as much as possible.^2,3 It would also ban fees based on a borrower's debt-to-income ratio and extend through the 2033 budget year Fannie Mae's and Freddie Mac's authority to charge a guarantee fee.^2,3

§2Status

§3How Congress voted

Why this matters: The official count.