Senate GOP criticizes Biden's mortgage plan penalizing good credit scores.

Senate Republicans have accused the Biden administration's Federal Housing Finance Agency (FHFA) of playing politics with the US housing market by forcing people with good credit to subsidize high-risk mortgages. They warned that doing so would put individual homebuyers and the entire market in danger. The legality of the move could be challenged, and the senators demanded the details of how this policy decision was made. The rule is set to take effect on May 1, 2023, and could create confusion and turmoil in the housing market.