The state controller for Nevada, Andy Matthews, is calling on the Biden administration to drop its plans to punish Americans with good credit scores when they obtain mortgages.
Matthews, in a commentary at Real Clear Wire, took aim at Biden’s scheme that took effect May 1, in which the “new Federal Housing Finance Agency policy will force those with good credit scores to pay more for their mortgages each month, with those extra payments used to subsidize the loans of higher-risk borrowers.”
The penalty for homebuyers with credit scores of 680 or more is about $40 per month on a loan of $400,000.
“It amounts to a tax increase on the middle class, and it’s atrocious in every way imaginable,” Matthews said.
“For starters, it is fundamentally unjust and absurd to impose a policy that punishes those who have acted responsibly, sacrificed, and worked hard toward a secure financial future for themselves and their families. That’s why I was honored to join a coalition of 34 state financial officers from around the country, led by Pennsylvania Treasurer Stacy Garrity, in signing a letter to the Biden administration voicing opposition,” Matthews wrote.
But he said Biden’s agenda is worse than that.
IMPEACH THIS CRIMINAL from OUR White House !!!!!!
Everyone keeps saying that, but nobody does a damn thing.