Biden to hike payments for good-credit homebuyers to subsidize high-risk mortgages
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Yeah I hate to give the cucks any ideas, but they've been discussing this a few years. It's either that or the dreaded bastard annual inspections again.......where they read your odometer before renewing your tag.
They don't. But they used to do inspections for emissions, brake lights, etc. Pretty easy to do odometer checks if they brought that back, if for no other reason than road taxes. They probably still do emissions checks in Kommiefornia.
They do them in Louisiana.
The joke there...they have to make sure your car is roadworthy even though the roads aren't car-worthy.
We already do this. It’s just one more insane thing the lefties are pushing on us.Insanity. Punishing responsible people to subsidize the irresponsible.
White grievance at its finest...ignore the facts at all costs and blame it on Biden "helping" blacks
Ooops...I better watch what I say because someone will think I'm shouting at white people
Decorum...How dare you yell at a racist stance?
https://www.yahoo.com/news/why-republicans-upset-mortgage-fees-132027976.html
Why Republicans Are Upset About Mortgage Fees
Arthur Delaney
Wed, May 3, 2023 at 9:20 AM EDT·6 min read
“We are incentivizing bad behavior. We’re hurting the good people,” Carlson said, before noting that “Black Americans are the only racial group in this country with average credit scores of under 680.”
The criticism might give the impression that, as a result of the change, people with good credit will actually pay higher fees than people with bad credit, but that’s not the case. Though the change reduced fees for some borrowers with worse credit, any borrower with a lower credit score still has to pay more for the same loan than a borrower with higher credit.
Calhoun noted that borrowers making low down payments face even higher costs, because they’re required to pay for private mortgage insurance if their down payments amount to less than 20% of the value of their home purchase — a fact Republicans have ignored.
“They’re tossing things up against the wall and when you dig into it, there’s no there there,” Calhoun said. “In fact, if anything, it’s striking how much more lower-credit-score and lower-down-payment loans pay than others.”
The suggestion that the government is trying to spur borrowing among Black Americans echoes Republican talking points that the government caused the 2008 financial crisis by encouraging minority homeownership — a claim rejected by the Financial Crisis Inquiry Commission in 2011. (Federal data show that less than 5% of government-backed mortgages went to Black borrowers in 2021.)
Sandra Thompson, director of the Federal Housing Finance Agency, put out a forceful statement last week seeking to clear up a “fundamental misunderstanding” about the fees.
“Higher-credit-score borrowers are not being charged more so that lower-credit-score borrowers can pay less,” Thompson said in part. “The updated fees, as was true of the prior fees, generally increase as credit scores decrease for any given level of down payment.”
Ooops...I better watch what I say because someone will think I'm shouting at white people
Decorum...How dare you yell at a racist stance?
https://www.yahoo.com/news/why-republicans-upset-mortgage-fees-132027976.html
Why Republicans Are Upset About Mortgage Fees
Arthur Delaney
Wed, May 3, 2023 at 9:20 AM EDT·6 min read
“We are incentivizing bad behavior. We’re hurting the good people,” Carlson said, before noting that “Black Americans are the only racial group in this country with average credit scores of under 680.”
The criticism might give the impression that, as a result of the change, people with good credit will actually pay higher fees than people with bad credit, but that’s not the case. Though the change reduced fees for some borrowers with worse credit, any borrower with a lower credit score still has to pay more for the same loan than a borrower with higher credit.
Calhoun noted that borrowers making low down payments face even higher costs, because they’re required to pay for private mortgage insurance if their down payments amount to less than 20% of the value of their home purchase — a fact Republicans have ignored.
“They’re tossing things up against the wall and when you dig into it, there’s no there there,” Calhoun said. “In fact, if anything, it’s striking how much more lower-credit-score and lower-down-payment loans pay than others.”
The suggestion that the government is trying to spur borrowing among Black Americans echoes Republican talking points that the government caused the 2008 financial crisis by encouraging minority homeownership — a claim rejected by the Financial Crisis Inquiry Commission in 2011. (Federal data show that less than 5% of government-backed mortgages went to Black borrowers in 2021.)
Sandra Thompson, director of the Federal Housing Finance Agency, put out a forceful statement last week seeking to clear up a “fundamental misunderstanding” about the fees.
“Higher-credit-score borrowers are not being charged more so that lower-credit-score borrowers can pay less,” Thompson said in part. “The updated fees, as was true of the prior fees, generally increase as credit scores decrease for any given level of down payment.”
Elections have consequences. Stolen elections have catastrophic consequences!
This is Obama 3.0…. The RINO’s help deliver The Steal of 2020. This was predictable!
This is Obama 3.0…. The RINO’s help deliver The Steal of 2020. This was predictable!
Yeah...the consequences here are:
1. Making the housing market more available to 1st time home buyers
2. Improving the capitalization of the GSEs to get them back to being independent
1. Making the housing market more available to 1st time home buyers
2. Improving the capitalization of the GSEs to get them back to being independent
They do them here in Maryland also, although most people go to the do it yourself kiosk. You type in your info in the computer, plug it in to your car turn the engine on, wait a minute and your done.
