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HR 258

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2025 Regular Session Introduced by Beryl Amedée and 21 co-sponsors

Prohibits FHFA and the GSEs from implementing the January 19, 2023 single-family pricing framework updates and nullifies the related Fannie Mae LL–2023–01 and Freddie Mac Bulletin

Taken by the Clerk of the House and presented to the Secretary of State in accordance with the Rules of the House.
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WeVote Research Nonpartisan
Bill Summary · HR 258

Summary — H.R. 258 (Introduced Jan 9, 2025)

Note on source documents
- The materials provided for H.R. 258 contain multiple, inconsistent texts (including state congratulatory resolutions and other unrelated measures) and conflicting sponsor information. This summary focuses on the clear, substantive federal provision contained in the “Introduced in House” version text. Where the source is ambiguous, that is noted.

Main purpose

H.R. 258 would prevent the Federal Housing Finance Agency (FHFA) and the Government-Sponsored Enterprises (GSEs) — as defined in 12 U.S.C. §4502 (i.e., the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation) — from implementing certain updates to the single‑family pricing framework announced by FHFA on January 19, 2023. The bill states that those announced changes, and the related Fannie Mae Lender Letter LL–2023–01 and Freddie Mac Bulletin 2023–1, “shall have no force or effect.”

Key provisions

  • Prohibition: The FHFA and the GSEs may not implement the January 19, 2023 updates to the single‑family pricing framework.
  • Nullification: The bill declares the referenced changes, the Fannie Mae Lender Letter (LL–2023–01), and the Freddie Mac Bulletin (2023–1) to have no force or effect.

(The text presented does not include additional definitions, exemptions, funding provisions, or implementation detail beyond the prohibition and nullification.)

Who would be affected

  • Federal Housing Finance Agency (FHFA): barred from carrying out the specified pricing framework changes.
  • The Enterprises (Fannie Mae and Freddie Mac): prohibited from implementing the referenced guidance and pricing changes.
  • Mortgage lenders, servicers, and investors: may be affected indirectly because changes to GSE pricing frameworks influence mortgage guarantee fees, loan pricing, and eligibility policies.
  • Homebuyers and mortgage borrowers: potential indirect impacts on mortgage pricing, availability of certain mortgage products, and closing costs depending on what the cancelled pricing changes would have done.

Procedural / timeline notes (from provided record)

  • Introduced in House: January 9, 2025.
  • Referred to: House Committee on Financial Services (record shows referral on 2025-01-09).
  • The document includes a range of later procedural entries (readings, calendar placements, “reported enrolled,” enrollment and signing by a Speaker, presentation to a Secretary of State) that appear to mix federal and state legislative actions and multiple resolutions. Sponsor information in the file is inconsistent: an “Introduced” header lists Rep. Wood (D), while a separate sponsor list names many other representatives. These inconsistencies suggest the compilation provided includes fragments from several different measures and state resolutions.

Potential impact and considerations

  • Immediate legal effect: If enacted, the bill would strip legal effect from the FHFA’s Jan. 19, 2023 single‑family pricing updates and related GSE guidance, blocking the FHFA and GSEs from applying those policies.
  • Market effects: Because GSE guarantee fee and pricing policy changes affect mortgage costs and secondary‑market pricing, rescinding such updates could influence mortgage rates, borrower fees, lender behavior, and the risk transfer characteristics of single‑family mortgage finance.
  • Implementation: The bill, as presented, is brief and does not specify transitional rules, whether prior actions taken under the guidance would be reversed, or how contractual commitments made in reliance on the guidance would be handled.

If you want, I can:
- Attempt to reconcile sponsor and procedural discrepancies in the provided file by cross‑checking congressional records,
- Provide context on what the FHFA January 19, 2023 single‑family pricing updates actually contained and what specific market effects rescinding them might produce.

Compiled from official sources — confirm details with the bill’s official record.

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