HARRISBURG – York County Sen. Kristin Phillips-Hill and Allegheny County Sen. Devlin Robinson are seeking support for a resolution calling on the Biden Administration and the Federal Housing Finance Agency to rescind a policy that punishes home-buyers with good credit. The agency unilaterally adopted a policy that took effect earlier this week that increases fees on home-buyers with good credit- who place large down payments, while rewarding borrowers with bad credit and small down payments. The state senators said the federal policy punishes Pennsylvanians who have been responsible with their credit and rewards those with poor credit scores. The senators are seeking support from fellow lawmakers to immediately rescind the policy. PA Treasurer Stacy Garrity is also leading an effort at the national level to eliminate the new mortgage fees impacting borrowers with good credit.
SEN. DEVLIN ROBINSON
SEN. KRISTIN PHILLIPS-HILL