Senate GOP slams ‘perverse’ Biden rule forcing people with good credit to subsidize high-risk mortgages
Fox News
Senate Republicans on Wednesday said the Biden administration is putting individual homebuyers and the entire housing market in danger by forcing people with good credit to subsidize high-risk mortgages.
"This announcement, scheduled to take effect May 1, 2023, will invert the common-sense risk financing structure at the GSEs in an effort to decrease mortgage rates for riskier individuals with low credit scores and forcibly raise rates for those with higher scores," they wrote, referring to the government-sponsored entities and mortgage giants Fannie Mae and Freddie Mac. "This shortsighted and counterproductive policy demonstrates a profound misunderstanding of the necessity of accurately tailoring housing finance products to credit risk and establishes a perverse incentive that punishes hardworking Americans for their fiscal prudence." Pete Kasperowicz is a politics editor at Fox News Digital.
"The housing market should not be exploited as a means to pander to targeted demographics that you have chosen, nor an instrument to secure political favoritism," they added.
Elon Musk's Department of Government Efficiency will next set its sights on the Pentagon's budget, where reformers have identified massive amounts of waste and abuse of taxpayer dollars.
Reports claiming the Palestinian Authority canceled its "pay for slay" terror rewards program have been questioned by critics. An Israeli spokesman called the move a "deception scheme."
Steve Bannon pleaded guilty on Tuesday to a charge that he defrauded donors who gave money to a private campaign to build a wall along the U.S. southern border.
The Department of Homeland Security told Fox News that "Four employees are being fired today" for their alleged actions.
I was disappointed to learn that Howard University, perhaps America’s most famous historically Black university, was taking in Ibram X. Kendi, a racial victim charlatan.
Two of President Donald Trump's nominees selected to take over top health roles in the federal government helped launch a new scientific journal after facing censorship during the COVID-19 pandemic.
Rep. John Larson, D-Ct., froze and began slurring his speech while delivering remarks. In response to the incident, his office says that the congressman is "in good spirits."
Columnist David Marcus travels to Parkersburg, W.V., where the federal government's Central Accounting Reporting System is located. Elon Musk and his DOGE team are headed there, too.
Musk and DOGE offer the best chance in a generation to untangle the mass of complex cables that are supposed to keep our government, our economy and our people safe.
A Pew Research Center survey found President Donald Trump has the highest approval rating less than a month back in office compared to any point in his first term.
Moscow says relations with Washington continue to deteriorate and are threatening a "breakup" as President Donald Trump seeks a peace deal for Ukraine.
CNN senior political analyst Mark Preston commented on some congressional Democrats considering a partial shutdown to protest President Donald Trump’s agenda.
Sens. Lisa Murkowski and Bill Cassidy declare they will vote to confirm former Rep. Tulsi Gabbard to serve as Director of National Intelligence.