To cancel certain proposed changes to loan level price adjustments by the Federal National Mortgage Association and credit fees charged by the Federal Home Loan Mortgage Corporation.

Bill 119 HR 258, also known as the "Loan Level Price Adjustment and Credit Fee Cancelation Act," aims to cancel certain proposed changes to loan level price adjustments by the Federal National Mortgage Association (Fannie Mae) and credit fees charged by the Federal Home Loan Mortgage Corporation (Freddie Mac).

The bill seeks to prevent Fannie Mae and Freddie Mac from implementing any new adjustments to loan level prices or credit fees that would potentially increase costs for borrowers. These adjustments are typically based on factors such as credit score, loan-to-value ratio, and property type, and can significantly impact the overall cost of obtaining a mortgage.

By canceling these proposed changes, the bill aims to ensure that borrowers are not unfairly burdened with additional costs when seeking a mortgage through Fannie Mae or Freddie Mac. This is particularly important as the housing market continues to face challenges and uncertainties, and ensuring access to affordable mortgage options is crucial for many Americans. Overall, the Loan Level Price Adjustment and Credit Fee Cancelation Act seeks to protect borrowers from unnecessary financial strain and promote a more stable and accessible housing market.