HR 3041
Secure Americans from Financial Exploitation (SAFE) Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Secure Americans from Financial Exploitation (SAFE) Act, aims to prevent changes to how Fannie Mae and Freddie Mac charge fees on mortgage loans. Specifically, it seeks to reverse a plan announced in January 2023 that adjusted fee percentages based on borrowers’ credit scores. The bill instructs these agencies to not implement the revised fee structure outlined in recent lender letters and bulletins. This action is intended to protect borrowers from potentially higher fees.
Sponsors
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Primary sponsor
Cosponsor
Darrell E. Issa
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