Press Releases

House Passes Subcommittee Chairman Davidson’s Middle-Class Borrower Protection Act

Washington, June 23, 2023 -

The U.S. House of Representatives today passed Subcommittee on Housing and Insurance Chairman Warren Davidson’s (R-OH) Middle-Class Borrower Protection Act of 2023. Under the Biden administration’s Loan-Level Price Adjustment (LLPA) mortgage rule, responsible homebuyers with good credit are forced to subsidize those with bad credit. The Middle-Class Borrower Protection Act reverses this rule by restoring the former LLPA mortgage structure.

“The Biden administration wants to use mortgage fees to put their finger on the scale and decide who gets to pay more and who gets to pay less,” said Chairman Patrick McHenry (R-NC)“This will make housing less affordable, not more, and puts taxpayers at risk by threatening the safety and soundness of our housing finance system. Nearly 95 percent of Americans nationwide have credit scores over 680 and almost half of those borrowers will face an extra $1.8 billion in new fees over the next two years under the Biden administration’s plan. House Republicans are taking action to protect middle class borrowers with Rep. Davidson’s bill and I was proud to support it on the House floor.”

“Responsible action should never be penalized, and irresponsible action should never be subsidized,” 
said Rep. Warren Davidson“The Biden administration’s mortgage rule is a socialist redistribution of wealth. I’m glad to see my colleagues recognize this issue and pass my legislation to reverse this rule.”


The Middle-Class Borrower Protection Act creates additional protections that prevent the Biden administration from imposing new fee changes based on the debt-to-income (DTI) of borrowers and institutes a temporary one-year freeze in FHFA’s ability to make new LLPA fee changes.


Print version of this document