Biden Now Punishing Americans With High Credit Scores To Subsidize Certain Homebuyers

The Daily Wire ^ | April 19, 2023 | Tim Meads

[Spok]

Washington state recently decided, through its Insurance Commissioner, that insurance companies couldn’t consider credit scores to set rates, because people with higher scores are safer risks and get lower rates. Responsible folks get screwed again.

[I want the USA back]

I wonder if the evening news will tell people that your reward for paying your bills on time is a higher rate.

It’s obvious that biden isn’t behind all this. There is a large crowd of radicals who are setting all this up, and he is signing whatever they shove in front of his nose.

[DEPcom]

Washington Times has details According to an article from The Washington Times, homebuyers with good credit scores will soon encounter a costly surprise: a new federal rule forcing them to pay higher mortgage rates and fees to subsidize people with riskier credit ratings who are also in the market to buy houses. This rule change will take effect on May 1st and will impact Americans when federally backed mortgage outfits such as Fannie Mae and Freddie Mac sock buyers with what are called loan-level price adjustments.

During a conversation with a fellow Sailing Club member who works in the mortgage industry, he mentioned that he anticipates an increased demand in May. This must be what he is referring too.

[CMailBag]

Where is this found in the Constitution???
What a Dictitorial SOB...

[9422WMR]

This is liar loans all over again.
Remember no proof of income required back around 2006 & 2007? Then came the financial crash of 2008 caused by bad loans for houses. Get ready for another crash coming hard and fast!

[PrinceOfCups]

"The inherent vice of Capitalism is the unequal sharing of blessings; the inherent virtue of Socialism is the equal sharing of misery" - Winston Churchill

[Varsity Flight]

Executive Order 12631, signed on March 18, 1988.

Taxpayers Backstop no matter the paper MBSs.

[DEPcom]

Biden is trying to stall the crash until after a Democrat gets elected in 2024. If the crash happens before 2024 we will see a Republican in office.

[Varsity Flight]

Executive Order 12631, signed on March 18, 1988.

Taxpayers Backstop no matter the paper MBSs.

[olivia3boys]

Combined with higher interest rates, stuff like this gives me less reason to want to sell my house and move. It’s a nice one-story ranch style in a nice area and I’m over 50 so I’ll just stay put.

[Organic Panic]

Just wait until Biden “wins” re-election.

[1Old Pro]

Just wait until Biden “wins” re-election.

He ain't running IMHO

[Jonty30]

I found that you can get a car for half the price of its worth by buying at an auction, if you shop carefully. You’ll still save money even if it needs some work.

[blackdog]

Hood rats with bad credit and felony convictions need a place to live too ya know?

Murderers among us.

[Texas resident]

This is obama taking his anger out on our country.

From those according to their ability.....

[gov_bean_ counter]

How to crash the housing market in three easy steps…

[immadashell]

Red Lining in reverse!

[Toespi]

This is just another twist of financing homes to those who can not afford them along with negative payment history. It is basically the same scheme that crashed the housing market in 2008. We will again see a glut of foreclosed homes.

[Eagles6]

Yep.

[z3n]

What’s funny is.... it’s not that hard to lower your credit score. LOL