Democrats Infuse Communism Into Mortgage Loans

[2012Bearcat]

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

A new federal rule will make borrowing for a home more expensive for those with high credit scores to subsidize loans to higher-risk borrowers.

www.foxnews.com

You work your ass off, made good decisions, pay your bills on time, sacrificed, saved your money for a sizable down payment on your new home and will now be charged a higher interest rate on your mortgage than those that didn't. SMFH

Looking at the bright side, last time Democrats did this the economy almost collapsed and I was able to buy houses for pennies on the dollar. Looking forward to it.

 

[LAY THE WOODY]

Yep, slick Willy made out like a bandit.

 

[2012Bearcat]

Any of you Biden voters want to try and defend this or are you going to ignore it like you do all the other ridiculous Democrat policies that are destroying the country?

 

[07pilt]

Lol

 

[Rdcldad]

Any of you Biden voters want to try and defend this or are you going to ignore it like you do all the other ridiculous Democrat policies that are destroying the country?

ccp/dnc dave for the living wage win

 

[aix_xpert]

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

A new federal rule will make borrowing for a home more expensive for those with high credit scores to subsidize loans to higher-risk borrowers.

www.foxnews.com

You work your ass off, made good decisions, pay your bills on time, sacrificed, saved your money for a sizable down payment on your new home and will now be charged a higher interest rate on your mortgage than those that didn't. SMFH

Looking at the bright side, last time Democrats did this the economy almost collapsed and I was able to buy houses for pennies on the dollar. Looking forward to it.

This story was terrible. Almost no real details in it. Does it apply to all loans or just FHA loans? Is it done as a fee at loan origination? Would it apply to refinance loans? Does it apply to "Jumbo" loans?

This story is another example of the media being in such a hurry to get a story out that shows the opposing party in a negative light, that they forget to actually report the facts and answer what should be simple and obvious questions. Further evidence that REAL journalism is dead.

 

[aix_xpert]

Looking at the bright side, last time Democrats did this the economy almost collapsed and I was able to buy houses for pennies on the dollar. Looking forward to it.

Given the % of home purchases that are now done in cash, I doubt you'll see that type of property value collapse again. Although, that said, I wouldn't mind a little pull back, as I'd like to buy an acreage out by Dade City (FL).

 

[aix_xpert]

Any of you Biden voters want to try and defend this or are you going to ignore it like you do all the other ridiculous Democrat policies that are destroying the country?

Its sad to see progressive's push and support such a regressive tax on the middle class. If I were looking to push a policy like this, I would have narrowed it down to only apply to "Jumbo" loans. That way you are at least targeting the Upper-middle class who are purchasing higher dollar homes (over $750K). Or you could do what California has done and tax property sales over $1M to fund this type of initiative, again targeting the 'wealthy' as Dems love to claim they do. Those kind of policies would at least align to 'progressive' tax principles. But this adjustment as described seems to directly target the middle class. Which is what I thought Biden explicitly claimed he wouldn't do.

 

[davidallen]

... Further evidence that REAL journalism is dead.

Certainly at some outlets...

 

[aix_xpert]

Certainly at some outlets...

The difference between me and you. Because I think for myself, I can call out the right-wing media when they write stupid shit. Someday, when you figure out how to have an opinion not provided by Google, you'll be able to call out your team's media too.

 

[2012Bearcat]

Certainly at some outlets...

Do you agree with the regulations? Punish those that do things right, in order to reward those that don't.

 

[LAY THE WOODY]

Has student loan forgiveness or for that matter affirmative action worked out? Smh.

 

[07pilt]

Do you agree with the regulations? Punish those that do things right, in order to reward those that don't.

Just such a stupid framing of what's actually happening

 

[HighStickHarry]

Just such a stupid framing of what's actually happening

Don’t tease us, what’s the deets?

 

[LAY THE WOODY]

Just such a stupid framing of what's actually happening

Joe and kamala are clapping. You git a gold star. 🤣

 

[07pilt]

Don’t tease us, what’s the deets?

They expanded the best rate bucket for federally subsidized home loans.

 

[LAY THE WOODY]

They expanded the best rate bucket for federally subsidized home loans.

Ah, the home mortgage crisis of the mid 2000s.

 

[2012Bearcat]

They expanded the best rate bucket for federally subsidized home loans.

While raising the fees and rates for those with credit scores over 680 or down payments over 15%. Does that make sense to you?

All this does is further retard the housing market. People with lower credit scores and limited down payment can't qualify for a mortgage with current Freddie/Fanny algorithms. There is a reason their credit scores suck.

 

[LAY THE WOODY]

While raising the fees and rates for those with credit scores over 680 or down payments over 15%. Does that make sense to you?

All this does is further retard the housing market. People with lower credit scores and limited down payment can't qualify for a mortgage with current Freddie/Fanny algorithms. There is a reason their credit scores suck.

Pilts like every dimm supports the inept. They're large in numbers

 

[davidallen]

Do you agree with the regulations? Punish those that do things right, in order to reward those that don't.

I'd want to get more info before jumping in with an opinion.

 

[LAY THE WOODY]

I'd want to get more info before jumping in with an opinion.

A bus or two might straitin you out.

 

[07pilt]

Ah, the home mortgage crisis of the mid 2000s.

I can promise you that was not caused by Fannie and Freddie being too generous.

 

[LAY THE WOODY]

I can promise you that was not caused by Fannie and Freddie being too generous.

Yer opinion then?

 

[07pilt]

While raising the fees and rates for those with credit scores over 680 or down payments over 15%. Does that make sense to you?

All this does is further retard the housing market. People with lower credit scores and limited down payment can't qualify for a mortgage with current Freddie/Fanny algorithms. There is a reason their credit scores suck.

The fee schedule flattened and increased. Less qualified buyers still pay more.

 

[07pilt]

See for yourself. And don't get confused by lower fees for lower down payment, that's made up for by mortgage insurance

Loan-Level Price Adjustment Matrix - Fannie Mae https://singlefamily.fanniemae.com/media/9391/display

 

[LAY THE WOODY]

See for yourself. And don't get confused by lower fees for lower down payment, that's made up for by mortgage insurance

Loan-Level Price Adjustment Matrix - Fannie Mae https://singlefamily.fanniemae.com/media/9391/display

Who banked? Now answer honestly if you can.

 

[2012Bearcat]

The fee schedule flattened and increased. Less qualified buyers still pay more.

Considering I'm going through the mortgage process right now I can tell you that is BS. We were supposed to close the end of this month but the house will not be complete until the middle of May. Guess what the mortgage company just told me? My rate and fees are going up because of this BS regulation.

 

[07pilt]

Considering I'm going through the mortgage process right now I can tell you that is BS. We were supposed to close the end of this month but the house will not be complete until the middle of May. Guess what the mortgage company just told me? My rate and fees are going up because of this BS regulation.

Read my lips "The fee schedule flattened and increased. Less qualified buyers still pay more."

If you don't like it you could always be a rugged individualist and get a loan unsubsidized by the government, or simply put your nose to the grindstone and a bigger down payment and credit score.

So entitled

 

[LAY THE WOODY]

Read my lips "The fee schedule flattened and increased. Less qualified buyers still pay more."

If you don't like it you could always be a rugged individualist and get a loan unsubsidized by the government

I saw yer lips a mile away princess.

 

[2012Bearcat]

Read my lips "The fee schedule flattened and increased. Less qualified buyers still pay more."

If you don't like it you could always be a rugged individualist and get a loan unsubsidized by the government

I have numerous friends in the Mortgage business, many of which I do business with. According to them, you know the ones that actually make the loans, that is BS.

No I'm probably going to pay cash through an LLC, create my own mortgage and use it as a tax shelter of some kind. CPA and the attorneys are looking into it for me. More than one way to skin a cat.

 

[LAY THE WOODY]

I have numerous friends in the Mortgage business, many of which I do business with. According to them, you know the ones that actually make the loans, that is BS.

No I'm probably going to pay cash through an LLC, create my own mortgage and use it as a tax shelter of some kind. CPA and the attorneys are looking into it for me. More than one way to skin a cat.

Why confuse the fool?

 

[07pilt]

I have numerous friends in the Mortgage business, many of which I do business with. According to them, you know the ones that actually make the loans, that is BS.

The LLPA schedule is published. I posted the link.

No I'm probably going to pay cash through an LLC, create my own mortgage and use it as a tax shelter of some kind. CPA and the attorneys are looking into it for me. More than one way to skin a cat.

Good luck!

 

[2012Bearcat]

The LLPA schedule is published. I posted the link.

Good luck!

I notice you completely avoid the waivers. SMFH

 

[LAY THE WOODY]

I notice you completely avoid the waivers. SMFH

Without a doubt homos are gifted waivers. Biden's merica.

 

[07pilt]

I notice you completely avoid the waivers. SMFH

Those don't change in May

 

[LAY THE WOODY]

Those don't change in May

The weather's changing though. 😁

 

[Rdcldad]

I'd want to get more info before jumping in with an opinion.

lacking 5 minutes to read the cliffs
ccp/dnc dave in his best brandon
tries to find his way from the lecturn

 

[Medic007]

I'd want to get more info before jumping in with an opinion.

That's a first.

 

[Sunburnt Indian]

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

A new federal rule will make borrowing for a home more expensive for those with high credit scores to subsidize loans to higher-risk borrowers.

www.foxnews.com

You work your ass off, made good decisions, pay your bills on time, sacrificed, saved your money for a sizable down payment on your new home and will now be charged a higher interest rate on your mortgage than those that didn't. SMFH

Looking at the bright side, last time Democrats did this the economy almost collapsed and I was able to buy houses for pennies on the dollar. Looking forward to it.

I recommend American Marxism by Mark R. Levin. I listened to every word of Biden Democrat debates. He promised higher crime and economic stagnation. Is he delivering?

 

[Sunburnt Indian]

Biden was among the 17 who raised hands when asked, "do you support health care for illegals?"

Not another foot of wall will be built if I am president.

And 81 million of us were stupid enough to vote for this? Trump won on Election Day when US elections are normally decided. Then the ballot harvesting began in the dark of night. Remember when we were energy independent and grandma in east Cleveland could buy eggs?