Bill
HR 258
HR 258 aims to block proposed changes to loan pricing by Fannie Mae and Freddie Mac, protecting consumers from potential increases in mortgage costs.
Bill Number: HR 258
Title: 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.
Status: Introduced in House
Introduced Date: January 09, 2025
Classification: Bill
The primary purpose of HR 258 is to prevent the implementation of specific changes to the pricing framework for single-family loans that were announced by the Federal Housing Finance Agency (FHFA) on January 19, 2023. The bill seeks to maintain the existing pricing structure and avoid any alterations that could affect the cost of loans for consumers.
Cancellation of Changes: The bill explicitly prohibits the FHFA and the related enterprises (Federal National Mortgage Association and Federal Home Loan Mortgage Corporation) from implementing the changes to the single-family pricing framework that were outlined in:
No Force or Effect: The proposed changes mentioned in the aforementioned documents will have no legal force or effect if this bill is enacted.
Consumers: Homebuyers and homeowners who rely on loans from the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) may be directly affected by the changes in pricing. The bill aims to protect them from potential increases in loan costs.
Federal Housing Finance Agency: The FHFA, which oversees Fannie Mae and Freddie Mac, will be impacted as it will not be able to implement the proposed pricing changes.
Lenders: Financial institutions that work with Fannie Mae and Freddie Mac may also be affected, as the pricing adjustments could influence their lending practices and profitability.
Committee Referral: Upon introduction, HR 258 was referred to the House Committee on Financial Services for further consideration.
Timeline: The bill was introduced on January 09, 2025, and will undergo the legislative process, including potential hearings and discussions within the committee before any further action is taken.
HR 258 aims to maintain the current pricing framework for single-family loans by nullifying proposed changes from the FHFA. If passed, this legislation could help stabilize loan costs for consumers and ensure that existing pricing structures remain in place. The bill is currently under review by the House Committee on Financial Services.
Compiled from official sources — confirm details with the bill’s official record.
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