Mitria Spotser

By KIMBERLEY HAAS The U.S. House of Representatives has passed the Middle-Class Borrower Protection Act which would reverse recent changes to fees charged by Fannie Mae and Freddie Mac. Republicans have been fighting changes to the loan-level price adjustment matrix which were announced earlier this year and scheduled to go into effect on May 1. Rep. Warren Davidson, R-Ohio, who introduced the act, has repeatedly said that the new fee structure is “a socialist redistribution of wealth.” “It’s a scheme created by the Federal Housing Finance Agency that forces financially responsible homebuyers with good credit to subsidize those with bad credit. Responsible action should never be penalized, and irresponsible action shouldn’t be subsidized. Under this rule, a majority of new…