, said in a statement to The Washington Times that the framework is designed “to maintain support for single-family purchase borrowers limited by wealth or income , while also ensuring a level playing field for large and small sellers, fostering capital accumulation, and achieving commercially viable returns on capital.”Sen. Elizabeth Warren, Massachusetts Democrat and a member of the Senate Banking Committee, strongly defended the administration in a recent interview with The Times.
“We’ve got an economy where the rich keep getting richer,” Ms. Warren said. “And part of what the administration is looking for are ways that we can expand opportunity for everyone.”“We still haven’t recovered from the crash in 2008 and more than 6 million homeowners being forced out of their homes because of Wall Street speculation bringing down our economy,” Ms. Warren said. “But I applaud all efforts to make housing and homeownership more affordable across our nation.
Republican lawmakers are threatening legislation to roll back the new rule as part of their efforts to use the Congressional Review Act to scuttle Mr. Biden’s regulatory agenda. “We call on you to take the necessary steps to reverse these unwise changes and eliminate this tax on creditworthy borrowers,” House Financial Services Committee Chairman Patrick McHenry, North Carolina Republican, wrote last week to“If you are unwilling or unable,” Mr.
President Obama’s Federal Housing Administration commissioner, David Stevens, has come out against the rates and fees that the“We’re all seeing the home sales data and seeing how much home sales are declining because of these rising interest rates,” Mr. Stevens said recently on Fox News. “And now we’re adding this second whammy to good credit, worthy homebuyers who are now going to have to pay for other people’s mortgages.