[Congressional Record Volume 169, Number 130 (Thursday, July 27, 2023)]
[Senate]
[Page S3752]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        PETITIONS AND MEMORIALS

  The following petition or memorial was laid before the Senate and was 
referred or ordered to lie on the table as indicated:

       POM-34. A concurrent resolution adopted by the General 
     Assembly of the State of Ohio urging the President of the 
     United States to rescind the Federal Housing Finance Agency's 
     new loan-level price adjustments (LLPAs) for purchase, rate-
     term refinance, and cash-out refinance loans; to the 
     Committee on Banking, Housing, and Urban Affairs.

                  Senate Concurrent Resolution No. 115

       Whereas, The Federal Housing Finance Agency announced a new 
     fee structure for purchase, rate-term refinance, and cash-out 
     refinance loans that will take effect on May 1, 2023; and
       Whereas, The new fee structure reduces or eliminates fees 
     for first-time and low-income homebuyers, but would 
     significantly increase fees for borrowers with moderate 
     incomes and higher credit scores; and
       Whereas, These increased fees, combined with higher 
     mortgage interest rates, could inhibit the ability of middle 
     class Ohioans to afford a home or to obtain a loan to 
     maintain or improve their current home; and
       Whereas, The increased fees could have a significant 
     chilling effect on the real estate market in Ohio and create 
     greater uncertainty for both buyers and sellers; now 
     therefore be it
       Resolved, That we, the members of Ohio Senate of the 135th 
     General Assembly, call upon the President of the United 
     States to rescind the new loan-level price adjustments for 
     purchase, rate-term refinance, and cash-out refinance loans 
     and, should the President refuse, call upon the Unites States 
     Congress to intervene; and be it further
       Resolved, That the Clerk of the Senate transmit duly 
     authenticated copies of this resolution to the President of 
     the United States, the President Pro Tempore and Clerk of the 
     United States Senate, the Speaker and Clerk of the United 
     States House of Representatives, each member of the Ohio 
     congressional delegation, and the new media of Ohio.

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