{"format":1,"id":"118-hr-3564","congress":118,"number":"H.R. 3564","kind":"bill","group":"bills","title":"Middle Class Borrower Protection Act of 2023","title_source":"Short Title(s) as Passed House","official_title":"To cancel recent changes made by the Federal Housing Finance Agency to the up-front loan level pricing adjustments charged by Fannie Mae and Freddie Mac for guarantee of single-family mortgages, and for other purposes.","titles":[{"type":"Official Title as Introduced","title":"To cancel recent changes made by the Federal Housing Finance Agency to the up-front loan level pricing adjustments charged by Fannie Mae and Freddie Mac for guarantee of single-family mortgages, and for other purposes."},{"type":"Display Title","title":"Middle Class Borrower Protection Act of 2023"},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"Middle Class Borrower Protection Act of 2023"},{"type":"Short Title(s) as Introduced","title":"Middle Class Borrower Protection Act of 2023"},{"type":"Short Title(s) as Reported to House","title":"Middle Class Borrower Protection Act of 2023"},{"type":"Short Title(s) as Passed House","title":"Middle Class Borrower Protection Act of 2023"}],"outcome":"passed_house","law_number":null,"introduced":"2023-05-22","chambers":{"house":{"status":"roll_call","date":"2023-06-23","vote":{"id":"118-2023-h289","question":"On Passage","title":"Middle Class Borrower Protection Act","result":"Passed","yea":230,"nay":189,"present":0,"not_voting":14,"source":"https://clerk.house.gov/evs/2023/roll289.xml"}},"senate":{"status":"na","date":null,"vote":null}},"president":{"status":"na","date":null},"vice_president_tie_breaker":null,"latest_action":{"text":"Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.","date":"2023-07-10"},"nominees":null,"amendments":[{"number":"H.Amdt. 214","sponsor":"Rep. Pettersen, Brittany [D-CO-7]","purpose":"Amendment sought to prevent the legislation from being enacted if the Federal Housing Finance Agency Director determines that the repeal of recalibrated single-family pricing framework increases fees on middle class borrowers.","result":"Failed","date":"2023-06-23","yea":204,"nay":216,"present":0,"not_voting":19,"source":"https://clerk.house.gov/evs/2023/roll287.xml"}],"other_votes":[{"chamber":"house","date":"2023-06-23","question":"On Agreeing to the Amendment","title":"","result":"Failed","yea":204,"nay":216,"present":0,"not_voting":19,"kind":"amendment","source":"https://clerk.house.gov/evs/2023/roll287.xml"},{"chamber":"house","date":"2023-06-23","question":"On Motion to Recommit","title":"Middle Class Borrower Protection Act","result":"Failed","yea":197,"nay":214,"present":0,"not_voting":22,"kind":"procedural","source":"https://clerk.house.gov/evs/2023/roll288.xml"}],"crs_summary":{"date":"2023-06-23","stage":"Passed House","blocks":[{"k":"h","t":"Middle Class Borrower Protection Act of 2023"},{"k":"p","t":"This bill rolls back changes made by the Federal Housing Finance Agency (FHFA) to the fees charged by Fannie Mae and Freddie Mac for a conventional single-family mortgage (i.e., loan-level pricing adjustments) and restricts future fee adjustments. These changes, effective May 1, 2023, revised the fee charts that provide percentage adjustments based on a mortgagor's credit score and down payment."},{"k":"p","t":"(Sec. 2) This section reinstates the fee structure that was in place prior to May 1, 2023."},{"k":"p","t":"(Sec. 3) Further adjustments to the fee structure by FHFA are prohibited until 90 days after the publication of a report by the Government Accountability Office (GAO) required by section 5 of the bill. After this period, FHFA must follow Administrative Procedure Act requirements when proposing adjustments to the fee structure."},{"k":"p","t":"This section also requires that, to the greatest extent feasible, revisions to the fee schedule must be based on risk."},{"k":"p","t":"(Sec. 4) FHFA, Fannie Mae, and Freddie Mac are prohibited from imposing any loan-level pricing adjustment fee that is based on the ratio of the debt of the mortgagor to the income of the mortgagor."},{"k":"p","t":"(Sec. 5) The GAO must report on the changes to the fees made by the FHFA."},{"k":"p","t":"(Sec. 7) This section extends through FY2033 the authority of Fannie Mae and Freddie Mac to charge a guarantee fee."}],"words":226},"summary":{"main_subject":{"text":"Requires the Federal Housing Finance Agency to return the up-front loan-level pricing adjustment fees charged by Fannie Mae and Freddie Mac on single-family mortgages to those in effect before May 1, 2023, and sets limits on later changes to those fees.","cites":[{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#HB7F10BCEDC654BC7A60B2C95BAE6558A"},{"label":"Sec. 3","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#H20298518A4014B06A91501FDEC4419A3"},{"label":"Sec. 4","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#H05200397185A48D4B16B9DD329479746"}]},"core_areas":["Fannie Mae and Freddie Mac single-family loan-level pricing adjustment fees","Federal Housing Finance Agency procedures for changing the pricing framework","Government Accountability Office study of the fee changes","Enterprise guarantee fee authority"],"what_it_does":[{"text":"Requires the Director of the Federal Housing Finance Agency, within 60 days after enactment, to revise the recalibrated single-family pricing framework so its fees are identical to the standard framework in effect immediately before May 1, 2023.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#HB7F10BCEDC654BC7A60B2C95BAE6558A"}},{"text":"Bars the Director from further revising the single-family pricing framework from the date of that revision until 90 days after the Government Accountability Office report is submitted to the Congress.","cite":{"label":"Sec. 3","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#H20298518A4014B06A91501FDEC4419A3"}},{"text":"Requires the Director, after that period, to follow procedures as close as practicable to those for a federal agency issuing a rule under the Administrative Procedure Act when proposing adjustments to the pricing framework.","cite":{"label":"Sec. 3","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#H20298518A4014B06A91501FDEC4419A3"}},{"text":"Prohibits the Director and the enterprises from imposing any loan-level pricing adjustment fee that is based on the ratio of the mortgagor's debt to the mortgagor's income.","cite":{"label":"Sec. 4","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#H05200397185A48D4B16B9DD329479746"}},{"text":"Directs the Comptroller General to study the Federal Housing Finance Agency's revisions to the pricing framework and to submit a public report to the Congress within 14 months after enactment.","cite":{"label":"Sec. 5","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#HFB874F7D57044DF59341DEB3B746B84E"}},{"text":"Extends from October 1, 2032 to October 1, 2033 the date in section 1327(f) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 that governs enterprise guarantee fees.","cite":{"label":"Sec. 7","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh#HB2844CE2548F4BDEA2F60864D1F676C5"}}],"unexpected":[],"version":{"type":"Engrossed in House","date":"2023-06-23","rule":"passed","href":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-10-02","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/118th-congress/house-bill/3564","text":"https://www.congress.gov/bill/118th-congress/house-bill/3564/text"},"card":{"image":"card/item/118-hr-3564.png","v":"bd7655957b4d","alt":"Votes on Record. H.R. 3564, 118th Congress: Middle Class Borrower Protection Act of 2023. House: 230 Yea, 189 Nay. Outcome: Passed House, 23 Jun 2023."}}