Debbie Lesko: “I thank Mr. Davidson for sponsoring this bill and allowing me to talk. The Biden administration's mortgage rule is the…”

“I thank Mr. Davidson for sponsoring this bill and allowing me to talk. The Biden administration's mortgage rule is the most recent in a long line of upside-down, absolutely crazy policies by this administration. Recently, the Federal Housing Finance Agency increased loan-level pricing adjustments for Americans with good credit scores and decreased the fees for the majority of Americans who have poor credit scores. That makes no sense. It is upside down, and it incentivizes people not to have good credit scores. Americans who have good credit scores and have been fiscally responsible should not be forced to effectively subsidize the loans of people with bad credit, especially in the middle of a cost-of-living crisis with still-high inflation rates and rising home prices. The Middle Class Borrower Protection Act repeals this terrible policy and ensures that Americans are not unfairly punished for being fiscally responsible. I have young adult children, and they struggle. They are not wealthy, as some of my Democratic colleagues have said, but they have struggled. They live paycheck to paycheck, but they try to have good credit scores. One of them said to me: Jeez, with this crazy Biden policy of wanting to punish people with good credit scores so that they have to pay more to subsidize people with poor credit scores, why the heck should I work to have good credit scores? That is what this administration is doing. This is like socialism. This is insane.…”