Biden Using ESG to Force People with Good Credit to Subsidize Those with Bad Credit – in the Name of ‘Equity’, by Craig Bannister
A Speech That Convinced a Dutch Philoshopher to be Catholic, by Paul Brock III
April 26, 2023
The Two Lords of the World – and Us, by Robert Royal
April 26, 2023
The fee, which was instituted by a Biden Administration rule – not by Congress – adds about $40 more a month ($480 per year) to the mortgages of those with credit scores of 680 buying homes in the $400,000 range... The new fee is part of the environmental, social and governance (ESG) movement, which seeks to impose liberal ideology on businesses and, by extension, American citizens.
By Craig Bannister, CNSNews, April 21, 2023
Starting next month, homebuyers with good credit will have to pay a monthly mortgage fee to subsidize people with bad credit who want mortgage loans.
The fee, which was instituted by a Biden Administration rule – not by Congress – adds about $40 more a month ($480 per year) to the mortgages of those with credit scores of 680 buying homes in the $400,000 range.
The Biden Administration’s argument is that it isn’t fair that people with poor credit ratings have a harder time getting approved for mortgage loans, and have to pay higher rates, if they do get them. Thus, the fee is meant to “level the playing field” by subsidizing the mortgages of high-risk homebuyers. Or, as Biden appointee and Federal Housing Finance Agency (FHFA) Director Sandra Thompson puts it, increasing their “pricing support.” FHFA is the agency through which the rule was issued.
The new fee is part of the environmental, social and governance (ESG) movement, which seeks to impose liberal ideology on businesses and, by extension, American citizens. …
Continue reading >>>>
Related posts
Pope John Paul II at old Yankee Stadium, New York City, October 4, 1979... This work is from the U.S. News & World Report collection at the Library of Congress. According to the library, there are no known copyright restrictions on the use of this work. This photograph is a work for hire created between 1952 and 1986 by staff photographers at U.S. News & World Report: