Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

https://finance.yahoo.com/news/just-miss-few-payments-screw-172747688.html?bcmt=1

"Schiff’s response was, “Just miss a few payments, screw up your credit score. That will help your mortgage rate.”

Schiff, who successfully predicted the financial crisis of 2008, pointed out the issues with this change.

“This new rule encourages people to make smaller down payments than they might otherwise have made,” he said. “Normally, if you make a big down payment, you get a better rate. But now, Biden wants the better rates to go to people that don’t make a big down payment.”

While the new rule could lead to more people becoming homeowners, it does not bode well for America’s banks, according to Schiff."