The first six sections of H.R. 3564 would repeal the structure of upfront fees related to mortgages that was instituted by the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, on May 1, 2023, and reinstate the fee structure that was in place prior to that date through the end of 2025. CBO estimates that enacting the bill would increase direct spending by $900 million in each of fiscal years 2024 and 2025. That increase in spending would occur because the amount of fees paid under the fee structure that was in place before May 1, 2023, would be less than under the existing structure.
Beginning in 2026, CBO expects that Federal Housing Finance Agency would institute an updated fee structure, based on an assessment by the Government Accountability Office (GAO), that would be broadly consistent with our current baseline projections. The actual fees could be higher or lower than those projections.
