ICYMI: Sen. Marshall: Biden’s Housing Rule “Another Policy Done in the Dark Of Night”
(Washington, DC) – U.S. Senator Roger Marshall, M.D. appeared on Fox News this afternoon to discuss the letter he and 17 of his Senate Republican colleagues penned to the Biden Administration’s Federal Housing Finance Agency (FHFA) Director Sandra Thompson. In the letter, the Senators blasted a Biden Administration proposal that penalizes Americans who have managed their money responsibly in order to subsidize mortgage rates for high-risk borrowers with low credit scores.
Highlights from the interview include:
On the Biden Administration’s proposal to penalize Americans who responsibly managed their money:
“Another policy done in the dark of night by the Biden Administration, but this policy is starting to sound a lot like the subprime policies that got us in trouble with the financial crisis.”
“Nothing about this makes sense. I think it is setting us up for failure. It’s not fair, and to your point they’ve not followed the legal process.”
“It’s like giving somebody a credit card with a higher credit limit than they need, but that’s exactly what’s happening. Look, we Republicans have a heart, we had the Community Reinvestment Act, that I know all of our banks use to help folks out with that first time home loan trying to help people with a lower income.”
“We don’t want to lead to another financial crisis on top of the inflation that we have. Right now, new homes are unaffordable for folks right now, created by Bidenflation.”