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H.R. 53

U.S. House•In House Committee

Summary

H.R. 53, the Responsible Borrower Protection Act of 2025, was introduced in the House on Jan 3, 2025 by Rep. Andy Biggs (R) with 7 co-sponsors. It was referred to Financial Services, and last saw action on Jan 3, 2025: Referred to the House Committee on Financial Services.

Record

Text

H.R. 53 has 7 co-sponsors.

hb53/introduced-in-house.txt
119 HR 53 IH: Responsible Borrower Protection Act of 2025
 U.S. House of Representatives
 2025-01-03
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 53  IN THE HOUSE OF REPRESENTATIVES   January 3, 2025   Mr. Biggs of Arizona  (for himself,  Mr. Ogles ,  Mr. Burlison ,  Mr. Weber of Texas ,  Mr. Cline ,  Mr. Bost , and  Mr. Cloud ) introduced the following bill; which was referred to the  Committee on Financial Services    A BILL
To cancel certain proposed changes to credit fees charged by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, and for other purposes.
1.
Short title
This Act may be cited as the   Responsible Borrower Protection Act of 2025  .
2.
Cancellation of changes
The Federal Housing Finance Agency and the enterprises (as such term is defined in section 1303 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4502 )) may not implement the changes to the single-family housing mortgage credit fee pricing framework of the enterprises announced by the Federal Housing Finance Agency on January 19, 2023 ( FHFA Announces Updates to the Enterprises’ Single-Family Pricing Framework ), and set forth in Federal National Mortgage Association Lender Letter LL–2023–01 and Federal Home Loan Mortgage Corporation Bulletin 2023–1, and such changes, Lender Letter, and Bulletin shall have no force or effect.
3.
Continuation of risk-based pricing
This Act may not be construed to prohibit the enterprises from applying risk-based pricing for credit fees for single-family housing mortgages.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-01-03
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Jan 3, 2025

hb53/introduced-in-house.md

Shown Here:
Introduced in House (01/03/2025)

Responsible Borrower Protection Act of 2025

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.

Sponsors

Rep. Andy Biggs (R) sponsors H.R. 53, and 7 members have co-sponsored it, 6 of them from the day it was introduced.

Committees

H.R. 53 went before 1 committee: Financial Services.

Financial Services
Financial Services
Referred To · Jan 3, 2025 · 559 Bills

Actions

H.R. 53 has taken 2 actions since Jan 3, 2025.

ChamberAction
Jan 3, 2025
House
Introduced in House
Jan 3, 2025
House
Referred to the House Committee on Financial Services.Financial Services Committee

Votes

H.R. 53 has not gone to a roll call.

Titles

H.R. 53 goes by 3 titles, 1 of them short titles.

  • Responsible Borrower Protection Act of 2025 — Display Title
  • Responsible Borrower Protection Act of 2025 — Short Title(s) as Introduced
  • To cancel certain proposed changes to credit fees charged by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, and for other purposes. — Official Title as Introduced

Classification

The Congressional Research Service files H.R. 53 under Finance and Financial Sector, one of its 31 policy areas, and gives it 5 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 53’s is Finance and Financial Sector.

hr53/policy-areas.txt
Finance and Financial SectorAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Legislative Subjects

H.R. 53 carries 5 of CRS’s legislative subjects, from Credit and credit markets to User charges and fees.

hr53/subjects.txt
Credit and credit marketsGovernment National Mortgage Association (Ginnie Mae)Housing finance and home ownershipInflation and pricesUser charges and fees

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 53, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 1 (Friday, January 3, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BIGGS of Arizona:H.R. 53.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8The single subject of this legislation is:The single subject of this bill is to cancel proposedchanges to credit fees charged by the Federal NationalMortgage Association and Federal Home Loan MortgageCorporation.[Page H37]

Source: congress.gov · legiscan.com