A group of 18 senators wrote a letter Wednesday demanding details about how President Biden's Federal Housing Finance Agency came to the decision to increase mortgage costs for those with good credit to offset those with poor credit. The letter, led by Sens. Roger Marshall, Ky., and Thom Tillis, N.C., said the policy 'demonstrates a profound misunderstanding of the necessity of accurately tailoring housing finance products to credit risk and establishes a perverse incentive that punishes hardworking Americans for their fiscal prudence.'The new rule set to take effect May 1 is part of a plan meant to address the gap in minority homeownership.
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