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118th Congress Finance and Financial Sector

H.R. 3564: Middle Class Borrower Protection Act of 2023

Passed HouseJun 23, 2023

  1. Introduced (completed)May 22, 2023
  2. Passed House (completed)Jun 23, 2023, 230–189
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Passed House, Jun 23, 2023

This bill rolls back changes made by the Federal Housing Finance Agency (FHFA) to the fees charged by Fannie Mae and Freddie Mac for a conventional single-family mortgage (i.e., loan-level pricing adjustments) and restricts future fee adjustments. These changes, effective May 1, 2023, revised the fee charts that provide percentage adjustments based on a mortgagor's credit score and down payment.

(Sec. 2) This section reinstates the fee structure that was in place prior to May 1, 2023.

(Sec. 3) Further adjustments to the fee structure by FHFA are prohibited until 90 days after the publication of a report by the Government Accountability Office (GAO) required by section 5 of the bill. After this period, FHFA must follow Administrative Procedure Act requirements when proposing adjustments to the fee structure.

Read the full summary

This section also requires that, to the greatest extent feasible, revisions to the fee schedule must be based on risk.

(Sec. 4) FHFA, Fannie Mae, and Freddie Mac are prohibited from imposing any loan-level pricing adjustment fee that is based on the ratio of the debt of the mortgagor to the income of the mortgagor.

(Sec. 5) The GAO must report on the changes to the fees made by the FHFA.

(Sec. 7) This section extends through FY2033 the authority of Fannie Mae and Freddie Mac to charge a guarantee fee.

Written by the Congressional Research Service, Library of Congress.

Key votes

House final vote, Jun 23, 2023

On Passage

Passed 230–189

Yea 230majority 210Nay 189

  • Democrats14 yea, 189 nay
  • Republicans215 yea, 0 nay
  • Independents1 yea, 0 nay

Broke with their party: Susan Wild (D-PA), Kim Schrier (D-WA), Abigail Spanberger (D-VA), Chris Pappas (D-NH), Jared Moskowitz (D-FL), Kathy Manning (D-NC), Josh Harder (D-CA), Marie Gluesenkamp Perez (D-WA), Jared Golden (D-ME) and Sharice Davids (D-KS) voted Yea; and 4 more

See how all 419 members voted

Showing 433 of 433 members

Yea 230

Republicans (215)

Independents (1)

Nay 189

Democrats (189)

Not voting 14

Republicans (5)

Senate

Not yet voted

Passed the House Jun 23, 2023. Awaiting Senate action.

Roll calls

3 votes on this bill

Showing 3 of 3 roll calls

  • Jun 23, 2023HouseOn PassageFinal passagePassed, yea-nay 230–189
    Roll call 289 tally by party
    PartyYeaNayPresentNot voting
    Democrats1418909
    Republicans215005
    Independents1000
    Total230189014

    House roll call 289: On Passage. Passed.

    14 crossed party lines: 14 Democrats

    How each member voted (433)
  • Jun 23, 2023HouseMotion to recommitFailed, yea-nay 197–214
    Roll call 288 tally by party
    PartyYeaNayPresentNot voting
    Democrats1971014
    Republicans021208
    Independents0100
    Total197214022

    House roll call 288: On Motion to Recommit. Failed.

    1 crossed party lines: 1 Democrat

    How each member voted (433)
  • Jun 23, 2023HouseH.Amdt. 214, PettersenRejected, yea-nay 204–216
    Roll call 287 tally by party
    PartyYeaNayPresentNot voting
    Democrats2040011
    Republicans021508
    Independents0100
    Total204216019

    House roll call 287: On Agreeing to the Amendment. Failed.

    Amendment by Brittany Pettersen (D-CO)

    How each member voted (439)

Amendments

4 offered

Showing 4 of 4 amendments

  • H.Amdt. 214Brittany Pettersen D-COFailedJun 23, 2023Jun 23, 2023: On agreeing to the Pettersen amendment (A004) Failed by recorded vote: 204 - 216 (Roll no. 287).
  • H.Amdt. 213Susie Lee D-NVAgreedJun 23, 2023Jun 23, 2023: On agreeing to the Lee (NV) amendment (A003) Agreed to by voice vote.
  • H.Amdt. 212Susie Lee D-NVAgreedJun 23, 2023Jun 23, 2023: On agreeing to the Lee (NV) amendment (A002) Agreed to by voice vote.
  • H.Amdt. 211Lauren Boebert R-COAgreedJun 23, 2023Jun 23, 2023: On agreeing to the Boebert amendment (A001) Agreed to by voice vote.

Cosponsors

13

Who scored on this bill

260 points earned
  1. 1Warren Davidson R-OH SponsorIntroduced, reported, passed House3 events+50
  2. 2Susie Lee D-NV2 amendments offered, 2 agreed4 events+44
  3. 3Lauren Boebert R-CO1 amendment offered, 1 agreed2 events+22
  4. 4Abigail Spanberger D-VA2 maverick votes2 events+12
  5. 5Brendan Boyle D-PA1 maverick vote1 event+6
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Warren Davidson

History

  1. Jun 23, 2023Passed the House, 230–189.
  2. May 22, 2023Introduced in the House by Warren Davidson.
Show the full action history (26 actions)
  1. Jul 10, 2023Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jun 23, 2023Considered under the provisions of rule H. Res. 524. (consideration: CR H3115-3128; text: CR H3120)
  3. Jun 23, 2023Rule provides for consideration of H.R. 3564, H.R. 3799 and H. Res. 461. The resolution provides for consideration of H.R. 3564 under a structured rule with one hour of general debate; H.R. 3799 under a structured rule with eighty minutes of general debate; and H.Res. 461, under a closed rule with one hour of general debate. The resolution provides for a motion to recommit on H.R. 3564 and H.R. 3799.
  4. Jun 23, 2023The Speaker designated the Honorable Dan Newhouse to act as Chairman of the Committee.
  5. Jun 23, 2023House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 524 and Rule XVIII.
  6. Jun 23, 2023GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3564.
  7. Jun 23, 2023DEBATE - Pursuant to the provisions of H. Res. 524, the Committee of the Whole proceeded with 10 minutes of debate on the Boebert amendment No. 1.
  8. Jun 23, 2023DEBATE - Pursuant to the provisions of H. Res. 524, the Committee of the Whole proceeded with 10 minutes of debate on the Lee (NV) amendment No. 2.
  9. Jun 23, 2023DEBATE - Pursuant to the provisions of H. Res. 524, the Committee of the Whole proceeded with 10 minutes of debate on the Lee (NV) amendment No. 3.
  10. Jun 23, 2023DEBATE - Pursuant to the provisions of H. Res. 524, the Committee of the Whole proceeded with 10 minutes of debate on the Pettersen amendment No. 4.
  11. Jun 23, 2023The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3564.
  12. Jun 23, 2023The previous question was ordered pursuant to the rule.
  13. Jun 23, 2023The House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.
  14. Jun 23, 2023Mr. Cleaver moved to recommit to the Committee on Financial Services. (text: CR H3127)
  15. Jun 23, 2023The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
  16. Jun 23, 2023On motion to recommit Failed by the Yeas and Nays: 197 - 214 (Roll no. 288).
  17. Jun 23, 2023Passed/agreed to in House: On passage Passed by the Yeas and Nays: 230 - 189 (Roll no. 289).
  18. Jun 23, 2023On passage Passed by the Yeas and Nays: 230 - 189 (Roll no. 289).
  19. Jun 23, 2023Motion to reconsider laid on the table Agreed to without objection.
  20. Jun 20, 2023Rules Committee Resolution H. Res. 524 Reported to House. Rule provides for consideration of H.R. 3564, H.R. 3799 and H. Res. 461. The resolution provides for consideration of H.R. 3564 under a structured rule with one hour of general debate; H.R. 3799 under a structured rule with eighty minutes of general debate; and H.Res. 461, under a closed rule with one hour of general debate. The resolution provides for a motion to recommit on H.R. 3564 and H.R. 3799.
  21. Jun 7, 2023Reported (Amended) by the Committee on Financial Services. H. Rept. 118-103.
  22. Jun 7, 2023Placed on the Union Calendar, Calendar No. 79.
  23. May 24, 2023Committee Consideration and Mark-up Session Held
  24. May 24, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 26 - 22.
  25. May 22, 2023Introduced in House
  26. May 22, 2023Referred to the House Committee on Financial Services.