Washington, DC – Today, U.S. Representative Young Kim (CA-40) applauded the decision by the Federal Housing Finance Agency (FHFA) to rescind changes to its upfront Debt-to-Income fee that would force homebuyers to pay more.
“FHFA’s absurd changes to debt-to-income ratio-based fees had the potential of hurting future homebuyers,” said Kim. “Policies should empower Americans to achieve their American dream. Unfortunately, the Biden administration seems to not be able to help themselves from implementing more spending and more regulations that keep the American dream out of reach. I’m glad the FHFA has reversed course on this proposal, and I will keep working on the Financial Services Committee to conduct oversight on federal agencies and expand opportunities for all Americans.”
