Rep. Stephanie Bice, R-Okla., unveiled the Free Market Mortgage Act of 2023 on Wednesday to stop a new Biden administration regulation that, if implemented, would force lower-risk mortgage borrowers to help subsidize lower rates for high-risk borrowers.
Managing director of Madison Ventures+ Mitch Roschelle joined ‘Fox News Live’ to weigh in on Bed Bath & Beyond filing for bankruptcy and President Biden’s new mortgage rate plan.House Republicans are rolling out legislation to stop a new Biden administration regulation that, if implemented, would force lower-risk mortgage borrowers to help subsidize lower rates for high-risk borrowers.
"Whether its student loan forgiveness or their mortgage rule, through the power of the pen, Biden and his executive agencies are attempting to bypass Congress and fundamentally change how our country operates," Bice said."We should not punish individuals who have made sound financial decisions or have the government incentivize lowering credit scores."
Her bill, the Free Market Mortgage Act of 2023, would repeal a new policy that the Federal Housing Finance Agency intends to enact next month. Rep. Stephanie Bice, R-Okla., is interviewed by CQ-Roll Call, Inc via Getty Images in her Rayburn Building office on March 22, 2023. Experts have said that under the rule, people with credit scores in the neighborhood of 680 might pay another $40 more per month on a $400,000 loan to subsidize higher-risk mortgages., interest rates have already increased significantly, and the last thing we should do is add more fees for homebuyers. We cannot continue a culture of dependency. My legislation prevents the Biden administration from implementing this senseless rule," Bice said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hundreds Protest GOP Silencing of Trans Rep. Zooey Zephyr at Montana CapitolRepublicans called for the censure of Rep. Zooey Zephyr after she condemned a state bill targeting transgender youth.
Read more »
Republicans use AI to attack Biden reelection bidDevelopments in AI have heightened fears about the use of fake content, including realistic deepfake videos and ads in political campaigns.
Read more »
GOP Drops Dystopian AI Attack Ad After Biden’s 2024 AnnouncementThroughout the nightmare clip, a faint disclaimer appears in the top left corner of the frame reading: “Built entirely with AI imagery.”
Read more »
2024 GOP hopefuls respond after Biden throws hat in ring for another term: 'Attacking our patriotism'GOP 2024 White House hopefuls weighed in on President Biden's and Vice President Harris' re-election campaign announcement video on Tuesday.
Read more »