[Hoot Gibson]

Another day, another anti-American, socialist policy from the Biden administration. This is such an idiotic policy that it is hard to believe it was not written for a Babylon Bee article. This is just another example in a long list of brazen attempts by Democrats to buy the votes of the worst educated and laziest American citizens (and illegal immigratns who choose to vote illegally).

Borrowers With High Credit Scores Penalized Under New Federal Mortgage Fee Plan

Mortgage borrowers with good credit may face higher costs under a new scheme from federal mortgage associations Fannie Mae and Freddie Mac. 

The firms have released a new Loan–Level Price Adjustment (LLPA) Matrix for loans sold to them after May 1, 2023. Under the new matrix, borrowers with high credit scores will face higher mortgage fees than before and those with lower credit scores will face lower fees.

"It's unprecedented," David Stevens, a former federal housing commissioner and former CEO of the Mortgage Bankers Association, told the New York Post. "My email is full from mortgage companies and CEOs [telling] me how unbelievably shocked they are by this move."

The fee increase is unlikely to lead to significantly higher monthly mortgage payments for most borrowers. For instance, someone with a $400,000 loan and a 6 percent mortgage rate may wind up paying about $40 more per month, according to Stevens' calculations.

But an extra $40 per month means an extra $480 per year. And over the whole course of mortgage repayment, a homeowner could wind up paying thousands of dollars more due to the fee shift.

Regardless of what the shift means in terms of actual costs, it seems unfair that borrowers with extremely good credit are effectively being penalized while borrowers with lower credit scores are being rewarded.

"This was a blatant and significant cut of fees for their highest-risk borrowers and a clear increase in much better credit quality buyers – which just clarified to the world that this move was a pretty significant cross-subsidy pricing change," Stevens said.

[Patriot1]

Another day, another anti-American, socialist policy from the Biden administration. This is such an idiotic policy that it is hard to believe it was not written for a Babylon Bee article. This is just another example in a long list of brazen attempts by Democrats to buy the votes of the worst educated and laziest American citizens (and illegal immigratns who choose to vote illegally).

Borrowers With High Credit Scores Penalized Under New Federal Mortgage Fee Plan

Mortgage borrowers with good credit may face higher costs under a new scheme from federal mortgage associations Fannie Mae and Freddie Mac. 

The firms have released a new Loan–Level Price Adjustment (LLPA) Matrix for loans sold to them after May 1, 2023. Under the new matrix, borrowers with high credit scores will face higher mortgage fees than before and those with lower credit scores will face lower fees.

"It's unprecedented," David Stevens, a former federal housing commissioner and former CEO of the Mortgage Bankers Association, told the New York Post. "My email is full from mortgage companies and CEOs [telling] me how unbelievably shocked they are by this move."

The fee increase is unlikely to lead to significantly higher monthly mortgage payments for most borrowers. For instance, someone with a $400,000 loan and a 6 percent mortgage rate may wind up paying about $40 more per month, according to Stevens' calculations.

But an extra $40 per month means an extra $480 per year. And over the whole course of mortgage repayment, a homeowner could wind up paying thousands of dollars more due to the fee shift.

Regardless of what the shift means in terms of actual costs, it seems unfair that borrowers with extremely good credit are effectively being penalized while borrowers with lower credit scores are being rewarded.

"This was a blatant and significant cut of fees for their highest-risk borrowers and a clear increase in much better credit quality buyers – which just clarified to the world that this move was a pretty significant cross-subsidy pricing change," Stevens said.

So the more you work and try to do things right and pay your bills like your supposed to the more the government wants you penalized you

[Hoot Gibson]

Another day, another anti-American, socialist policy from the Biden administration. This is such an idiotic policy that it is hard to believe it was not written for a Babylon Bee article. This is just another example in a long list of brazen attempts by Democrats to buy the votes of the worst educated and laziest American citizens (and illegal immigratns who choose to vote illegally).

Borrowers With High Credit Scores Penalized Under New Federal Mortgage Fee Plan

Mortgage borrowers with good credit may face higher costs under a new scheme from federal mortgage associations Fannie Mae and Freddie Mac. 

The firms have released a new Loan–Level Price Adjustment (LLPA) Matrix for loans sold to them after May 1, 2023. Under the new matrix, borrowers with high credit scores will face higher mortgage fees than before and those with lower credit scores will face lower fees.

"It's unprecedented," David Stevens, a former federal housing commissioner and former CEO of the Mortgage Bankers Association, told the New York Post. "My email is full from mortgage companies and CEOs [telling] me how unbelievably shocked they are by this move."

The fee increase is unlikely to lead to significantly higher monthly mortgage payments for most borrowers. For instance, someone with a $400,000 loan and a 6 percent mortgage rate may wind up paying about $40 more per month, according to Stevens' calculations.

But an extra $40 per month means an extra $480 per year. And over the whole course of mortgage repayment, a homeowner could wind up paying thousands of dollars more due to the fee shift.

Regardless of what the shift means in terms of actual costs, it seems unfair that borrowers with extremely good credit are effectively being penalized while borrowers with lower credit scores are being rewarded.

"This was a blatant and significant cut of fees for their highest-risk borrowers and a clear increase in much better credit quality buyers – which just clarified to the world that this move was a pretty significant cross-subsidy pricing change," Stevens said.

So the more you work and try to do things right and pay your bills like your supposed to the more the government wants you penalized you

The Democrats' playbook has been for a long time, to keep their constituents as poor and ignorant as possible, tell voters that they are the party for the "working man," and then rob actual working men (and women) of their money to buy the votes of their poor, ignorant, unemployed and under employed constituents. Of course, the "Big Guy" and his friends get their cut first.

[The Outsider]

I can't see this getting passed. It just doesn't make sense to me.

[TheRealThing]

Nothing getting past makes any sense to anybody with so much as two randomly flickering brain cells.

[Hoot Gibson]

I can't see this getting passed.  It just doesn't make sense to me.

It doesn't have to pass. It's another idiotic policy that we can thank you and the other Democrats responsible for putting a socialist moron into the White House.