Controversy Surrounding Biden Administration's New Mortgage Rule: Penalizing Borrowers with Good Credit Scores to Subsidize Higher-Risk Borrowers
The Biden administration is implementing a new rule that will require home buyers with good credit to pay more for their mortgages in order to subsidize loans for higher-risk borrowers. Experts predict that borrowers with credit scores around 680 may pay an additional $40 per month on a $400,000 mortgage under the rules set by the Federal Housing Financ…
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