The latest in a series of new Biden administration rule changes that charge higher fees to certain home buyers with good credit and lower fees for buyers with worse credit went into effect this week despite pushback from Republicans and many financial experts.
A group of U.S. House and Senate Republicans as well as state officials were unable to stop the rule, which a Biden administration official confirmed went into effect as planned Monday.
A coalition of Senate Republicans recently sent a letter to Sandra Thompson, director of the Federal Housing Finance Agency, the latest in several policy changes from the group. The agency implemented the rule change this week.
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