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.

# HR 258 Bill Summary **What the Bill Does** HR 258 would prevent two major mortgage companies—Fannie Mae and Freddie Mac—from implementing pricing changes they announced in January 2023. Specifically, it blocks them from adjusting the fees borrowers pay based on credit scores and other risk factors. The proposed changes would have increased these fees for many borrowers, with the size of the increase depending on individual loan characteristics. **Who It Affects** This bill primarily impacts people buying homes or refinancing mortgages.

Borrowers with lower credit scores or riskier loan profiles would be most affected, as they would face higher fees under the new pricing structure. The bill also involves the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac—government-sponsored enterprises that own or guarantee most mortgages in the U.S. **Current Status** The bill is currently in committee and has not yet been voted on by the full House of Representatives. It was introduced by Republican Representative Stephanie Bice from Oklahoma.