Some of them will have more time to bring their credit scores up.
It’s not perfect but BETTER than what will happen, now. That’s all I’m saying.
Remember also a refinance is likely to increase their payment, so they’re right back up against the payment increase they can’t afford. There will be some people who benefits as you describe, but I’m concerned with the “collateral damage” impact on the whole mortgage system when you suddenly change the rules.