House Republicans are attempting to undo President Biden’s controversial mortgage rule that took effect earlier this month.
this week that, if ultimately enacted by Congress, would undo President Biden’s controversial mortgage rule that has angered conservatives., would "cancel recent changes made by the Federal Housing Finance Agency to the up-front loan level pricing adjustments charged by Fannie Mae and Freddie Mac for guarantee of single-family mortgages."
"It really is just a socialist redistribution of wealth. It is that simple. It's an equity play by the administration," Davidson told Fox Business in an exclusive interview. The rule has faced fierce pushback from Republicans on Capitol Hill – including Davidson – with members from both chambers of Congress vowing to repeal the changes made by the Federal Housing Finance Agency , saying the rule is unfair.
Davidson’s bill comes the same week that embattled FHFA Director Sandra L. Thompson appeared before the House Financial Services Committee, with the director facing tough questions from lawmakers.
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