PENNSYLVANIA, June 15 - PRINTER'S NO. 901

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE RESOLUTION

No.

134

Session of

2023

INTRODUCED BY ROBINSON, PHILLIPS-HILL, BOSCOLA, LANGERHOLC,

ROTHMAN, REGAN, MARTIN, PENNYCUICK, GEBHARD, DiSANTO, BROWN,

DUSH, BROOKS, J. WARD AND LAUGHLIN, JUNE 15, 2023

REFERRED TO BANKING AND INSURANCE, JUNE 15, 2023

A RESOLUTION

Urging the Federal Housing Finance Agency to rescind changes to

Fannie Mae's and Freddie Mac's single-family pricing

framework for home purchases, rate-term refinance and cash-

out refinance loans that affect homebuyers in this

Commonwealth.

WHEREAS, The Federal Housing Finance Agency (FHFA)

implemented a change to Fannie Mae's and Freddie Mac's single-

family pricing framework by introducing redesigned fee matrices

for home purchases, rate-term refinance and cash-out refinance

loans; and

WHEREAS, Under the newly effective change, fees assessed on

borrowers with lower credit scores were reduced while fees were

increased on borrowers with higher credit scores and moderate

down payments; and

WHEREAS, The majority of mortgages that exist today are known

as "conforming mortgages" because they adhere to the

underwriting guidelines of Fannie Mae or Freddie Mac and are

subject to loan-level price adjustments established by the FHFA;

and

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