Small "fee"? It's not a fee -- it's
legalized theft.Over the life of the loan,
you're stealing $15,000 from someone who is credit worthy and giving it to someone who isn't.
It's hard to cross that line and make me care what the article is missing. Intentions are stated loud and clear. Steal from those doing the right thing because if anyone else hasn't, well, that can't possibly be their own fault. And since there can't be any accountability,
it must just be because life is unfair for them.
As far as your confusion, from what I've read -- certain people will be penalized for having good credit. That penalty will become a
credit on the monthly payment of those who don't.
This explains with more depth:
https://reason.com/2023/04/21/borro...zed-under-new-federal-mortgage-fee-plan/And then, get this... "Under the new rules, high-credit buyers with scores ranging from 680 to above 780 will see a spike in their mortgage costs –
with applicants who place 15% to 20% down payment experiencing the biggest increase in fees…."
You cannot make this stuff up!
