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

Bill Text

    Rules Committee Print 118-8 PDF XML

    Showing the text of H.R. 3564, as ordered reported by the Committee on Financial Services

    Text of H.R. 3564 PDF XML

    (as reported)

    H. Rept. 118-103 PDF

    Report from the Committee on Financial Services to accompany H.R. 3564

Rule Information

COMMITTEE ACTION:
REPORTED BY A RECORD VOTE of 9-4 on Tuesday, June 20, 2023.

FLOOR ACTION ON H. RES. 524:
Agreed to by a record vote of 215-211, after agreeing to the previous question by a record vote of 215-207, on June 21, 2023.

MANAGERS: Burgess/McGovern

1.

Structured rule for H.R. 3564.

2.

Waives all points of order against consideration of the bill.

3.

Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services or their respective designees.

4.

Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 118-8 as modified by the amendment printed in part A of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.

5.

Waives all points of order against provisions in the bill, as amended.

6.

Further makes in order only those amendments printed in part B of the Rules Committee report. Each amendment made in order may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question in the House or in the Committee of the Whole.

7.

Waives all points of order against the amendments printed in part B of the report.

8.

Provides one motion to recommit.

9.

Structured rule for H.R. 3799.

10.

Waives all points of order against consideration of the bill.

11.

Provides eighty minutes of general debate equally divided and controlled by the chair and ranking minority member of the Committees on Education and the Workforce or their respective designees and Ways and Means or their respective designees.

12.

Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 118-9 as modified by the amendment printed in part C of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.

13.

Waives all points of order against provisions in the bill, as amended.

14.

Further makes in order only those amendments printed in part D of the Rules Committee report. Each amendment made in order may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question in the House or in the Committee of the Whole.

15.

Waives all points of order against the amendments printed in part D of the report.

16.

Provides one motion to recommit.

17.

Closed rule for H. Res. 461.

18.

Provides that upon adoption of this resolution it shall be in order without intervention of any point of order to consider H. Res. 461.

19.

Provides that the amendments to the resolution and the preamble recommended by the Committee on Education and the Workforce now printed in the bill shall be considered as adopted and the resolution, as amended, shall be considered as read.

20.

Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Education and the Workforce or their respective designees.

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
1Version 1Pettersen (CO)DemocratPrevents the legislation from being enacted if the FHFA Director determines that Sec. 2 would increase fees on middle class borrowers.Made in Order
2Version 2Williams (GA)DemocratLate Revised Revises Section 2 to ensure that mortgage fees will be lower for middle-class borrowers than they were under the original upfront fee matrices. "Middle-class borrowers" are defined as those with incomes at or below 80% of AMI or 200% of AMI in high cost areas.Revised
3Version 1Garcia (TX)DemocratLate Eliminates LLPAs on PMI to H.R. 3564, the “Middle Class Borrower Protection Act” sponsored by Mr. DavidsonSubmitted
4Version 1Waters (CA)DemocratLate Prohibits upfront fees charged to first-time, first-generation homebuyers.Submitted
5Version 2Green, Al (TX)DemocratLate Revised Amends the section of HR 3564 requiring a GAO report to include a disparate impact analysis of mortgage pricing, including the differences in fees and pricing for low wealth borrowers, people of color, and low income borrowers.Revised
6Version 1Tlaib (MI)DemocratLate Prohibits the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation from applying up-front fees based on the characteristics of an individual mortgage to mortgages on single-family residences that were valued at less than $100,000 at the time of the making of such mortgage.Submitted
7Version 1Cleaver (MO)DemocratLate Eliminates loan level price adjustments for mortgages for residences of innovative housing design.Submitted
8Version 1Molinaro (NY)RepublicanLate This amendment directs GAO to evaluate home and property loan financing mechanisms that could be used to increase the supply of housing in the U.S.Submitted
9Version 1Lee (NV)DemocratLate Requires that the GAO study assess the recalibrated single-family pricing framework's impact on first-time, low-income homebuyers.Made in Order
10Version 1Lee (NV)DemocratLate Requires that the GAO study assess the recalibrated single-family pricing framework's impact on affordable housing preservation, rural housing, and manufactured housing.Made in Order
11Version 1Ogles (TN)RepublicanLate Expresses the sense of Congress that the conservatorships of Fannie Mae and Freddie Mac should end.Submitted
12Version 2Waters (CA)DemocratLate Revised Eliminates upfront fees on mortgages for newly constructed homes in urban or rural areas.Revised
13Version 1Boebert (CO)RepublicanLate Requires the GAO Study in Section 5 to also be made available to the public online.Made in Order
14Version 1Davidson (OH)RepublicanMANAGER’S AMENDMENT Late Extends Section 1327(f) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4547(f)) by one year.Considered as Adopted

Committee Votes

Rules Committee Record Vote No. 69

Motion by Mr. Burgess to report the rule. Adopted: 9–4

Majority Member
Vote
Mr. Burgess
Yea
Mr. Reschenthaler
Yea
Mrs. Fischbach
Yea
Mr. Massie
Yea
Mr. Norman
Yea
Mr. Roy
Yea
Mrs. Houchin
Yea
Mr. Langworthy
Yea
Mr. Cole, Chairman
Yea
Minority Member
Vote
Mr. McGovern
Nay
Ms. Scanlon
Nay
Mr. Neguse
Nay
Ms. Leger Fernández
Nay