. SenatorTimScott warns Biden's new mortgage rule will block families from making 'homeownership a reality'
Scott is conducting oversight of thewhich would force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers. Experts have said under the rule, people with credit scores in the neighborhood of 680 might pay another $40 more per month on a $400,000 loan to subsidize higher-risk mortgages.
Sen. Tim Scott, R-S.C., is challenging the Biden administration's new mortgage rule, expressing concern that it could prevent Americans from owning homes. Thompson and the FHFA have said the new rules are designed to"increase pricing support for purchase borrowers limited by income or by wealth" and comes with"minimal" fee changes, and claimed that the move will"more accurately align pricing with expected financial performance and risks of the underlying loans.
Scott also said that loans to borrowers with minimal down payment"resulted in lower fees, regardless of credit scores.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Senators love Tim Scott, but they're not ready to endorse him for presidentMany of Scott's Senate colleagues had nothing but positive things to say about the amiable Republican. When asked if they'll officially back him in 2024, they were quieter.
Lire la suite »
Sen. Kyrsten Sinema criticizes Biden administration response to migrant crisis as 'not adequate'Sen. Kyrsten Sinema said in an interview last week that although the new proposals from the Biden administration's measures on immigration were 'helpful,' she's 'very concerned that all this is happening in the week or so' before the end of Title 42.
Lire la suite »
Biden response to growing migrant crisis ‘inadequate,’ Arizona Sen. Sinema charges“Those are aspirational. That’s not the same as operational. And so what I’m asking for and have been for two years, is for the administration to make concrete plans.”
Lire la suite »
Sen. Sinema attacks Biden for Title 42 chaos: White House 'had two years to prepare'Sen. Kyrsten Sinema, I-Ariz., criticized the Biden administration and the federal government over a lack of action on the border as Title 42 is expected to expire on Thursday.
Lire la suite »
Bracing for impact: Biden world preps for Hunter Biden falloutThe White House has concluded that Republicans will attack over the political fallout from the charging decision in the Hunter Biden case — whether President Joe Biden’s son is criminally indicted or not.
Lire la suite »
President Biden Backs Son Hunter Biden During Federal Tax, Gun ProbePresident Joe Biden said he is supporting his son as federal prosecutors decide whether to charge Hunter Biden with felony and misdemeanor counts related to tax evasion and gun crimes: “My son has done nothing wrong.'
Lire la suite »