House Passes Bill to Rescind LLPA Changes

On June 23, the House of Representatives passed the “Middle Class Borrower Protection Act of 2023,” legislation sponsored by Rep. Warren Davidson (R-Ohio) that aims to rescind the controversial changes to loan-level pricing adjustments (LLPA) announced earlier this year by the Federal Housing Finance Agency (FHFA). The legislation, garnering support from all House Republicans passed with a vote of 230-189, but there is no viable path forward for the bill  to advance in the Democratic controlled Senate.

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