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Mortgage Fee Reversal: Restoring Risk-Based Pricing for Fannie Mae and Freddie Mac.

This Act aims to cancel recent fee adjustments made by the FHFA for single-family mortgage guarantees provided by Fannie Mae and Freddie Mac. The goal is to revert to the previous fee structure, ensuring that costs are strictly based on the financial risk of the loan, potentially lowering fees for certain middle-class borrowers who faced increases. It also prohibits the use of debt-to-income ratio (DTI) in calculating future mortgage fees.
Key points
Cancels the 2023 mortgage guarantee fee increases, potentially reducing costs for some borrowers with good credit.
Prohibits Fannie Mae and Freddie Mac from setting mortgage fees based on the borrower's debt-to-income ratio (DTI).
Requires future fee adjustments to be based solely on credit risk and subject to public review processes.
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Expired
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Additional Information
Print number: 118_S_2296
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2023-07-13
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Middle Class Borrower Protection Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2296.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-13.

What are the main provisions?

Key points include:

  • Cancels the 2023 mortgage guarantee fee increases, potentially reducing costs for some borrowers with good credit.
  • Prohibits Fannie Mae and Freddie Mac from setting mortgage fees based on the borrower's debt-to-income ratio (DTI).
  • Requires future fee adjustments to be based solely on credit risk and subject to public review processes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Real Estate Economy