Tag: Federal Housing Finance Agency

Senator Bill Hagerty Leads Banking Committee Republicans in Opposing Government Agency’s Race-Based Housing Plans

Hannah Poling

Tennessee U.S. Senator and member of the Senate Banking Committee Bill Hagerty (R-TN) led the Republican members of the Senate Banking Committee on Tuesday in sending a letter to Federal Housing Finance Agency (FHFA) Director Sandra Thompson in opposition to the agency’s racial equity housing plans, which encourage discrimination based on race.

“Yesterday, I led my Senate Banking Committee GOP colleagues in sending a letter to FHFA Director Sandra Thompson calling out racial equity housing plans that encourage discrimination on the basis of race, rather than focusing on ensuring the safety and soundness of Fannie Mae and Freddie Mac,” Hagerty said.

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Senators Push Back Against Federal Rule Raising Mortgage Fees for Some with Good Credit

The Center Square

A group of Republican Senators have introduced the Middle Class Borrower Protection Act, legislation that would overturn a new federal rule that charges higher fees to certain home buyers with good credit and lower fees for buyers with worse credit.

“The average American has a credit score over 716,” said Sen. Mike Braun, R-Ind, who is helping lead the effort. “The Biden administration is making home ownership more difficult for everyday Americans by raising rates for most people with a credit score over 680 to subsidize riskier borrowers.”

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Outrage Continues over Federal Rule to Charge Higher Fees to Home Buyers with Better Credit

The Center Square

A new federal rule that would charge higher fees to home buyers with good credit to help subsidize those with poor credit goes into effect Monday.

The Federal Housing Finance Agency announced in January it would increase Loan-Level Price Adjustment fees for mortgage borrowers with higher credit scores to help keep fees lower for those with worse credit.

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Empower Oversight Wins Appeal, Obtains Documents on Housing Finance Agency Office of Inspector General

Cooper Moran

Empower Oversight, a nonprofit and nonpartisan organization with the goal of enhancing oversight of government, won an appeal for six Freedom of Information Act (FOIA) requests, allowing the group to access documents previously undisclosed.

The organization sought documents related to multiple reports of misconduct in the Federal Housing Finance Agency Office of Inspector General (FHFA-OIG).

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Housing Prices Hit Highest Rate of Growth Ever Recorded

Admin

Home prices reached record highs in April as the housing market continued to boom, with home prices in areas around cities climbing at the fastest rate on record.

Average home prices in metropolitan areas, measured by the S&P CoreLogic Case-Shiller National Home Price Index, rose 14.6% between April 2020 and April 2021, according to an analysis released Tuesday. The increase is the highest annual rate of housing price growth the index has measured, according to The Wall Street Journal.

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