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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