Current Events | Bursting the Housing Bubble

I go over the latest news release about Biden hiking payments for good-credit home buyers to subsidize high-risk mortgages. This will open up lower to middle credit scoring people to be able to buy homes at a reasonable market price and at a lower rate, but the burden is passed on to higher credit scoring people who can afford upward of 20% down payment on a house.

🔴 Topics and points touched on in this podcast: RIN-2590-AB29, Fannie Mae, Freddie Mac, Mortgage rates, high to low credit score, increase in monthly mortgage payments.

#housingmarket #mortgage #housingbubble #2023

Links~

Federal Housing Finance Agency: https://www.fhfa.gov/SupervisionRegulation/RegulationFederalRegister/Pages/Rules-Notices.aspx

RIN-2590-AB29 Document: https://www.fhfa.gov/SupervisionRegulation/Rules/Pages/Fair-Lending-Fair-Housing-and-Equitable-Housing-Finance-Plans-Proposed-Rule.aspx#

Code of Federal Regulation: https://www.ecfr.gov/current/title-12/chapter-XII/subchapter-E/part-1292

Fair Lending and Fair Housing - Fannie Mae: https://www.fanniemae.com/media/43636/display

Fair Lending and Fair Housing - Freddie Mac: https://www.freddiemac.com/about/pdf/Freddie-Mac-Equitable-Housing-Finance-Plan.pdf

Chapters
Intro - 00:00
Whats being said in the news - 01:02
What turned up in research - 01:55
Quotes directly from the document:
Page 49 - Proposed rule timing elements - 04:44
Page 58 - Under served community - 06:53
Conclusion - 09:08
End - 10:23

~~ LEGAL DISCLAIMER~~
Topics and subjects discussed on these videos are for Entertainment Purposes ONLY. You are responsible for your own life and decisions. The Mind of Jay is not qualified to give Medical, Legal or Financial Advice, and takes no responsibility for individual interpretations or actions taken.