Tell Biden: Reverse New Mortgage Fees!

logo State Financial Officers Foundation
On May 1, the Biden Administration’s Federal Housing Finance Agency put in place a new policy which increases fees for home buyers with good credit scores.

This policy uses those fees to LOWER costs for borrowers with poor credit.

This is un-American: it harms those who have saved and work hard to get ready to buy a home. Even worse, it will result in the type of incentives that lead to the financial crisis of 2008.

Tell FHFA Director Sandra L. Thompson that this policy must be reversed. Penalizing responsible home buyers is the wrong direction for this country.