7a7aa3 No.371237
Biden Regime To Punish Good-Credit Homebuyers To Subsidize High-Risk Mortgages
A new rule from the Biden administration will force homebuyers with good credit scores to pay higher mortgage rates in order to subsidize loans to those with riskier borrowing profiles, the Washington Times reports.
The fee, which will apply to those buying or refinancing houses after May 1, will affect homebuyers with credit scores of 680 or higher, will amount to roughly $40 per month on a home loan of $400,000, or nearly $500 per year. Homebuyers who make down payments of 15% - 20% will be hit with the largest fees.
According to those in the industry, the changes will frustrate homebuyers with high credit scores, as well as those looking to refinance, as they're being punished for having strong financial positions.
"The changes do not make sense. Penalizing borrowers with larger down payments and credit scores will not go over well," said Ian Wright, a senior loan officer at Bay Equity Home Loans in the San Francisco Bay Area, in a statement to the Washington Times via email. "It overcomplicates things for consumers during a process that can already feel overwhelming with the amount of paperwork, jargon, etc. Confusing the borrower is never a good thing."
Wright also says that the rule will "cause customer-service issues for lenders and individual loan officers when a consumer won’t understand why their interest rate and fees suddenly changed."
"I am all for the first-time buyer having a chance to get into the market, but it’s clear these decisions aren’t being made by folks that understand the entire mortgage process," he continued.
The new fees “will create extreme confusion as we enter the traditional spring home purchase season,” said David Stevens, a former head of the Mortgage Bankers Association who served as commissioner of the Federal Housing Administration during the Obama administration.
“This confusing approach won’t work and more importantly couldn’t come at a worse time for an industry struggling to get back on its feet after these past 12 months,” Mr. Stevens wrote in a recent social media post. “To do this at the onset of the spring market is almost offensive to the market, consumers, and lenders.”
The housing market has been hit hard by a series of Federal Reserve interest rate hikes that have driven mortgage rates above 6%, roughly double the level from early 2022. The Fed has raised rates rapidly to bring down inflation, which hit a four-decade high of 9.1% last summer.
Under the new Biden rules, those with lower credit scores and smaller down payments will qualify for better mortgage rates and discounted fees thanks to the surcharge on those with good scores.
This and the hundreds of other related unnecessary governmental interventions once again proves America is no longer a free market capitalist country, but is controlled, rigged and monopolized by government, the Federal Reserve and their special interest oligarchs.
https://www.zerohedge.com/personal-finance/biden-punish-good-credit-homebuyers-subsidize-high-risk-mortgages
____________________________
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371238
>>371237
perhaps you should consider getting your GED?
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371239
>>371237
that way, you wouldn't have to die with only a shitty, embarrassing 10th grade education
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371240
>>371237
and you would have FINLLY finished something you started
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371257
>>371237
FUCK YOU AND YOUR STUPID IMAGINARY JESUS
YOU LOW IQ DROPOUT ALCOHOLIC ANIMAL ABUSING PIECE OF WHITE TRASH
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371258
Thanks to hiring standards, Law Enforcement Officers cannot have an IQ over 100, or they will not get hired…
YOU ?…… quite honestly, I would assume you probably have a 92 IQ
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371259
A person's IQ has nothing to do with "how much they know"
nope….
a person's IQ indicates their ABILITY TO LEARN
And you went 10 years to the education system without ever mastering first grade grammar
You literally had 10 years of school, but you were unable to learn the difference between YOUR and YOU'RE
Because you can't learn very well. You have a learning disability
You struggle to differentiate between THERE, THEIR and THEY'RE
Because your brain is dysfunctional. It's incapable of learning even the most simple things
PLUS, you are determined to only believe what you want to believe, and absolutely refuse to learn what you need to know
THEN THERES THE STUPID ALCOHOLIC PART
You're a fucking idiot
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371260
>>371237
you and your NINE & A HALF YEARS of "education"
hahahahahaha
You stupid fucking redneck piece of shit. Fuck you, alcoholic scumbag!!!
FUCK YOU, WHITE TRASH !!!
GO ABUSE ANOTHER ANIMAL,COWARD!!!
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371261
9.5 years of HILLBILLY PUBLIC EDUCATION SYSTEM, and you never managed to learn ONE SYLLABLE WORDS
You are stupid as shit. You are not intelligent. You are one of the dumbest redneck idiots I've ever seen, and everything you say is stupid
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371262
GO DRINK ANOTHER BOTTLE OF WHITE TRASH
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371263
Go molest your daughter again, you sexually dysfunctional white trash inbred hillbilly pedophile
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371264
GO GET YOURGED, you illiterate 73-year-old piece of white trash garbage
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371265
I would love to come to Missouri and take one of your guns out of your weak stupid uneducated illiterate hands, AND BEAT YOU WITH IT
But I know the universe is going to handle it for me, because you are living your own personal hell, stupid uneducated illiterate white trash, who never loved his wife, who molested his own daughter, who hides behind and imaginary jesus, and who is too stupid to spell YOU'RE correctly
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
f4397a No.371275
>>371265
You are a liar but whatever. Enjoy the endless stream of real news.
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371276
>>371275
AGAIN :FUCK YOU, MR. 92 IQ STUPID ALCOHOLIC REDNECK
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371278
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371279
AGAIN: an IQ = your brains ability to learn
ABILITY TO LEARN
And you still have it mastered one syllable words, you stupid fucking white trash animal abusing child molesting low class alcoholic piece of shit
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371280
you STILL haven't mastered YOUR vs YOU'RE
Because you have a very low IQ
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371281
I just thought you deserved to know the truth. You have a very low iq, and nobody thinks you're smart
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371282
Now go beg your daughter to buy you another bottle of whiskey, you low IQ white trash idiot
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371283
YOURE AN UNDERACHIEVING SACK OF TRAILERPARK DIRT
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371285
YOU NEVER ACHIEVEDANYTHING
N O T H I N G
And now you want people to perceive you as being insightful and intelligent? As if you have life advice that would help them
FUCK YOU, WHITE TRASH NIGGER ALCOHOLIC COWARD
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371286
You're STUPID
you are NOT even vaguely intelligent
and your own family wishes you'd just die, so they don't have to pretend like they care anymore
So they don't have to be obligated into feeling sorry for you anymore
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371287
you are a TRAILERPARK BUTTPLUG
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371288
honestly?…..
your corpse would make a nice ashtray, or a humorous Taxidermied garbage can
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371289
You will serve a much greater purpose dead than you have alive
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371290
you never amounted to JACK SHIT
stupid low class low IQ Blue Collar grunt work worthless trash
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
f4397a No.371322
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
7869f7 No.371327
bumping your useless ass into a landfill grave
stupid low class low IQ Blue Collar grunt work worthless trash
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
c9a303 No.371398
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
c9a303 No.371405
bumping non-State-run news
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
511576 No.371501
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
bc8fb8 No.371860
bumping thought-provoking news
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
cb5c01 No.373027
bumping thought-provoking news
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
cb5c01 No.373180
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
2b2d3e No.374585
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
76ef5d No.375766
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
0277de No.377024
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
a460db No.378297
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
76ef5d No.380483
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.
