Is the Democrats’ law that responsible people must pay more for mortgages the first step in social credit scores?

Lisa558 · May 4, 2023

Curried Goats said:
Princess is right. All these people in favor of getting slightly lower fees for home purchases than they had previously just don't want to work..... logic!

PRINCESS?! You’ve seen the many discussions here that Princess is shorthand for Jewish American Princess and is antisemitic. So what does the racist, antisemitic black guy do? Uses it when referring to the Jew.

And if you weren’t so eager to issue an antisemitic slur, you’d realize that people who don’t manage their money correctly shouldn’t be getting rewarded with a discount. You’re such a typical demofk.

Lisa558 · May 4, 2023

Curried Goats

Now you hush up, boy, and maybe you’ll learn something.

FranklinRoosevelt_FTW · May 4, 2023

Lisa558 said:
The Democrats have decided that paying bills late, or otherwise do things that have caused a low social credit score, is a behavior that is worthy of a less expensive mortgage. When you engage in financially rewarding (or punishing) people based on behavior, rather than on risk/benefit analysis, isn’t this the first step in paying people to engage in behavior you want (in this case, being financially irresponsible)?

So what is next? Will people who participate in Democrat-supported causes get extra points that will help them with loans? Will people who sign petitions trying to get a specific Democrat kicked out of Congress be punished at the loan office?

Where will the Democrats’ drive to control people end up?

Coming soon: America’s own social credit system

The same issue with government censorship exists with corporate censorship: If there is a line, who draws it?

thehill.com

It’s a shocking thing my friend. But here’s what matters there can’t be any more than 5% of Americans that support the far left wing, whether it’s the radical transgender or Black Lives Matter. It must be a horrible thing to be a white man and hate your ancestors or to be a black man and completely disregard the fact that Black people owned slaves

Why does the United States government cater to extremists like Black Lives Matter it’s represent under 5% of all Americans. That’s the problem and Republicans are part of the problem in that regard. Remember the republican governor of Texas gave George Floyd a State funeral. A man who has the gun to a pregnant lady stomach got a state funeral.

So that’s the greatest threat to America is man feeling weak like they’re nothing at all whether they’re white or black if they feel weak and feminine it’s a major threat to America and that is what leads to things like a social credit score…. this insane idea that certain people are allowed to get a break when it comes to a bills or that if somebody makes more or less money they get to pay more or that’s for a traffic ticket some of the dumbest shit we’ve ever heard of.

jc456 · May 4, 2023

citygator said:
That’s just you being stupid because you don’t understand something. If you have bad credit you pay way more than someone with good credit in fees.

untrue friend. From my last link

Those who cite this table claim that the reduction in fees for some higher-risk borrowers (in the green boxes) and increase in fees for some lower-risk borrowers (in the red boxes) show that lower-risk borrowers are now subsidizing higher-risk borrowers. But it doesn’t. It simply shows where FHFA has had to adjust pricing to align it with the new capital requirements or the underlying risk. Alone, it tells us nothing about cross-subsidy.

It is truly an amazing fate that these people think we're stupid. The graph explains it and yet, they deny it. truly ludicrous.

FranklinRoosevelt_FTW · May 4, 2023

Sixties Fan said:
The article is noting more than an opinion.

BY KRISTIN TATE, OPINION CONTRIBUTOR

Kristin Tate is a libertarian writer and an analyst for Young Americans for Liberty.

-----------

Try starting a thread with something factual.

For someone who claims to be Jewish you sure do love those Nazis in Ukraine.

Lisa558 · May 4, 2023

FranklinRoosevelt_FTW said:
For someone who claims to be Jewish you sure do love those Nazis in Ukraine.

He also supports the anti-Israel Party, where the pro-Palestinian leftists on called campuses are engendering a big rise in antisemitism.

Curried Goats · May 4, 2023

Lisa558 said:
PRINCESS?! You’ve seen the many discussions here that Princess is shorthand for Jewish American Princess and is antisemitic. So what does the racist, antisemitic black guy do? Uses it when referring to the Jew.

Racism is subjective. I don't care if you feel put off by it, thats kind of the point.

Lisa558 said:
And if you weren’t so eager to issue an antisemitic slur, you’d realize that people who don’t manage their money correctly shouldn’t be getting rewarded with a discount. You’re such a typical demofk.

If you're weren't such an emotional Princess you'd realize I don't give a shit about your characterization of it being a discount. And what?

Under the revision someone who had a credit score of 750 would see their rate go from .250% to .375%. Meanwhile people with a credit score of 650 would see their rate go from 2.75% to 1.5%. Last I checked 1.5% was greater than .375%.

You're crying like a little bitch not because people with worse credit scores are paying a lower rate than people with better credit scores but because they are paying a lower rate than they were previously. What a Simple bitch you are.

WEATHER53 · May 4, 2023

Yes we the responsible pay more to make up for the deadbeats who dont
It’s a lot like rewarding a 2 year old for tantrums

Lisa558 · May 4, 2023

WEATHER53 said:
Yes we the responsible pay more to make up for the deadbeats who dont
It’s a lot like rewarding a 2 year old for tantrums

Same thing with Obamacare. My premium skyrocketed to $1000 a month with high deductibles while some other people in the waiting room were bragging how they were only paying $30.

WEATHER53 · May 4, 2023

Lisa558 said:
Same thing with Obamacare. My premium skyrocketed to $1000 a month with high deductibles while some other people in the waiting room were bragging how they were only paying $30.

Obamacare was always a bad plan. Like masks and the Covid shots, benefitting just 10% of the population but forced on everyone because “it’s for our own good and we don’t know better enough to decide for ourselves”

citygator · May 4, 2023

jc456 said:
Biden administration's controversial rule raising fees for those with good credit goes into effect

www.msn.com

The change applies only to certain loans backed by Freddie Mac and Fannie Mae. A chart from the Urban institute shows that those with credit scores of 680 or higher and with down payments between 5% and 20% will pay higher fees while borrowers with down payments of less than 5% will pay smaller fees, regardless of credit scores.

Thompson said in a news release that the fee change would “advance their mission of facilitating equitable and sustainable access to homeownership.”

Rewarding losers again. only in demofk land.

You are being conned. You get these are subsidized loans? The fees are constructed so that they are raising fees on loans there is little reason to discount so that it can better serve those who need the help? If you don’t need an FHA loan you don’t need a discount for an FHA loan.

Bidenâs Mortgage âSocialismâ? Right Claims New Policy Pushes Higher Fees To Americans With Better CreditâBut Thatâs Not Really True

Officials representing 27 states have panned the policy as a "disaster," but experts claim it's a "misunderstanding."

www.forbes.com

citygator · May 4, 2023

Ralph Norton said:
What do YOU call it when fees are going UP for borrowers with good credit and going DOWN for borrowers with poor credit?
And if you reply that they're not then you are either an idiot or simply don't want to acknowledge it.
Either way, you're wrong.

People with good credit are paying next to nothing for those loans. People with bad credit are paying a ton for the loans. There is no socialism going on. It’s pricing. You guys all thread pounded on good credit paying more than those with bad credit.

Then when I pointed out that wasn’t true you’re trying to compare only part of year over year pricing when in fact the vast vast majority of loans are first time buyers 85% who got a huge discount in February from reduced fees.

What Biden’s FHA mortgage fee cut means for buyers

First-time homebuyers already feeling the pinch of inflation could catch a break after a recent action that will trim mortgage insurance premiums on federally backed loans. Loans secured with…

thehill.com

Almost everyone is paying lower fees!

Lisa558 · May 4, 2023

WEATHER53 said:
Obamacare was always a bad plan. Like masks and the Covid shots, benefitting just 10% of the population but forced on everyone because “it’s for our own good and we don’t know better enough to decide for ourselves”

It was obvious to anyone with a brain that there was no way you could make insurance cover more people, have the insurance plans themselves have better coverage, and it will all cost less.

M14 Shooter · May 4, 2023

citygator said:
People with good credit are paying next to nothing for those loans. People with bad credit are paying a ton for the loans. There is no socialism going on. It’s pricing. You guys all thread pounded on good credit paying more than those with bad credit.

Then when I pointed out that wasn’t true you’re trying to compare only part of year over year pricing when in fact the vast vast majority of loans are first time buyers 85% who got a huge discount in February from reduced fees.

Almost everyone is paying lower fees!