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https://treasury.ms.gov/2023/05/11/mcrae-challenges-biden-on-new-mortgage-rule/
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McRae Challenges Biden on New Mortgage Rule | State Treasury of Mississippi
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Newsroom McRae Challenges Biden on New Mortgage Rule Jackson, Miss. —Mississippi Treasurer David McRae joined top finance officials this week in challenging President Biden on a new mortgage rule that punishes families with good credit scores. Under the mortgage redistribution policy, home buyers who have maintained good credit scores and offer a strong down payment will face higher mortgage fees going forward. These increased fees will then be used to subsidize those with poorer credit scores. “For decades, Americans have been told that they will be rewarded for saving their money and building a good credit score,” wrote McRae in a letter to President Biden. “This policy turns that time-tested principle upside down.” The challenge was made in a letter McRae co-signed with nearly three dozen state financial officers from across the count...
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