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Keyword: riskloans

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  • Biden rule will redistribute high-risk loan costs to homeowners with good credit

    04/20/2023 6:30:17 PM PDT · by Enlightened1 · 31 replies
    Fox News via Yahoo ^ | 08/19/23 | Michael Lee
    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...