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A new Biden administration rule that is set to go into effect will force homeowners with good credit to pay more on their mortgages in order to subsidize loans to high-risk borrowers.According to a new, insane Biden Admin rule, people with good credit will be assessed higher mortgage rates to subsidize riskier loans to people with lower credit. Homeowners will now be punished for being responsible.Biden's attack on success in the name of "equity" continues.

Tucker calls out Biden's new equity agenda in home ownership For centuries, politicians in this country assumed that in order to win an election, you had to convince voters to vote for you. You had to make their case. That was called democracy. But the defining strategic insight of the modern Democratic Party is they don't really need to convince anyone of anything. What matters is demographics. To import enough people from elsewhere, people who are financially dependent on you in order to live. That's the story of the state of California. That's why California changed. It's why Texas is...

A Biden administration rule is set to take effect that will force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers.Experts believe that borrowers with a credit score of about 680 would pay around $40 more per month on a $400,000 mortgage under rules from the Federal Housing Finance Agency that go into effect May 1, costs that will help subsidize people with lower credit ratings also looking for a mortgage, according to a Washington Times report Tuesday."The changes do not make sense. Penalizing borrowers with larger down payments and credit scores will not...

A new federal Biden rule will force homebuyers with good credit scores to pay higher mortgage rates and fees so they can subsidize people with riskier credit ratings who want to buy a home. It’s wealth redistribution and will be a disaster since risky homebuyers usually default. The feds will also temporarily ignore lenders’ debt-to-income ratio. It determines if homebuyers can afford to pay their mortgages each month. The fees are allegedly minimal for now, but you know how that goes. The fee changes will go into effect May 1 as part of the Federal Housing Finance Agency’s push for...

A Biden administration rule is set to take effect that will force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers. Experts believe that borrowers with a credit score of about 680 would pay around $40 more per month on a $400,000 mortgage under rules from the Federal Housing Finance Agency that go into effect May 1, costs that will help subsidize people with lower credit ratings also looking for a mortgage, according to a Washington Times report Tuesday. "The changes do not make sense. Penalizing borrowers with larger down payments and credit scores...

Just when you think the Biden administration can’t possibly have any more awful ideas, his team rolls out a plan to punish Americans with high credit scores to subsidize high-risk homebuyers. On Wednesday, The Washington Times reported that starting May 1, Americans purchasing a new home or refinancing their existing mortgage can expect to pay higher mortgage rates and monthly fees if they have a higher credit score. Americans with lower credit scores and smaller down payments will be given better rates. In other words, Biden is essentially stealing from the rich to give to the needy by adjusting the...

A new white paper from the globalist International Monetary Fund (IMF) is calling for dissidents to have their credit score lowered if they view websites that are arbitrarily deemed to be harmful. The plan is outlined in a blog written by Arnoud Boot, Peter Hoffmann, Luc Laeven and Lev Ratnovski. They are pitching the Orwellian notion as a breakthrough in financial technology (Fintech). “Recent research documents that, once powered by artificial intelligence and machine learning, these alternative data sources are often superior than traditional credit assessment methods,” they wrote, claiming that “the type of browser and hardware used to access...

About 1 in 4 credit card holders — or almost 50 million Americans — had their credit limits cut or their card accounts closed in the past 30 days, according to a consumer survey by Lending Tree's Compare Cards website. The reductions particularly affected men between the ages 18 and 38, according to the survey. Lenders aren't required to tell customers when their credit limits are lowered, LendingTree analyst Matt Schulz said, adding that many lenders made their moves in the past month to avert losses if cash-strapped consumers struggle to keep up with payments amid surging U.S. unemployment. The...

Changes in how the most widely used credit score in the U.S. is calculated will likely make it harder for many Americans to get loans. Fair Isaac Corp., creator of FICO scores, will soon start scoring consumers with rising debt levels and those who fall behind on loan payments more harshly. It will also flag certain consumers who sign up for personal loans, a category of unsecured debt that has surged in recent years. The changes will create a bigger gap between consumers deemed to be good and bad credit risks, the company says. Consumers with already-high FICO scores of...

Credit scores inspire anxiety in many consumers. We can't easily see them, and we don't always know what's lurking behind them. Perhaps that's why there seem to be so many myths and misperceptions about exactly what's in a credit score. In a recent national survey by Visa Inc. that asked U.S. consumers what factors negatively affect a credit score, plenty of answers were flat-out wrong. About 25 percent mistakenly thought where they live could hurt their credit score. Others said — erroneously — that their job, their ethnicity or even their age could affect a credit score. The findings are...

Another mortgage-refinancing boom is under way. But this time around, many homeowners will be watching from the sidelines. For the first time since 2005, mortgage rates have slipped well below 6%, ending last week at about 5.87%, according to mortgage tracker HSH Associates. Some lenders are offering even lower deals. At these levels, about 37% of homeowners could refinance their mortgages and save money on their monthly payment, estimates investment bank Bear Stearns Cos. As rates drop further -- and some expect that to happen if the economy continues to weaken -- increasing numbers of consumers will find refinancing their...

The slumping housing market could get a $200 billion boost from new immigrant home buyers if mainstream lenders start using alternative methods to score credit, a national group of Hispanic realtors said Friday. Creditors like Citigroup Inc.'s Citibank see recent immigrants as a growing market niche, but those who lack Social Security numbers or legal status in the U.S. are often rejected by the three major credit bureaus. A handful of new credit reporting systems already used by 200 real estate brokers, community groups and mortgage counselors nationwide allows them to calculate risk by evaluating a prospective client's utility bills...

This is a letter I wrote to the Department of Insurance several days ago. Please act on this information and get INVOLVED! -JEL To Whom It May Concern: Automobile insurance becomes an oppressive taxation when the State orders the compelled benefit onto the People. The benefit discussed here is "Reduced Automotive Liability". When insurance companies can raise rates based on a buyer's consumer credit rating, it is an act of discrimination as well as an act of tyranny and oppression because the State ordered the People to receive the benefit Without controlling the Corporation, writing the benefits/policies. Credit ratings have...