How do you feel about the upcoming changes to the way US mortgage fees are calculated?

👍 Strongly agree (8%) – "While I know that many will cry foul, I think it's because the problem is counterintuitive to begin with. I think this change (while incremental at best) will do something to chip away at the problem of inequity and wealth disparity that's overwhelming the majority of our people. I don't see this as a "punishment", but rather as a much-needed correction (hopefully one of many more to come)."

📈 Agree/Somewhat agree (8%) – "I have good credit and will pay the fee. I won't really notice and it can help make homeownership (which helps individuals, the community, and the economy) more attainable for others. Not thrilled, but see the merit and am good with it."

🤷 Neutral (7%) – "The way your headline was structured made me initially in disagreement with the idea. However, looking at the numbers it makes more sense. I think it’s important to point out that the fees paid by those with good credit are still much lower than those paid by borrowers with poor credit."

📉 Disagree/Somewhat disagree (18%) – "I fully support efforts to make homeownership more accessible for lower income Americans, but lower income ≠ lower credit score, and higher credit score ≠ higher income. Why not base the % of the fee on a borrower's income rather than credit score?"

• "I worked for a major mortgage securitization company in the early 2000s that also took steps to reduce fees and make mortgages more accessible to low income borrowers with subprime credit. Directly as a result of tipping the balance too far and the high default rate in the subprime market, that company no longer exists."

👎 Strongly disagree (59%) – "This law is punishing responsible consumers and rewarding those who have not managed their finances well. People who have bad credit need to turn things around before they purchase a home, as they could be at risk for defaulting on the loan. Buying a home is a privilege for those who have worked hard to save the money and manage their finances well."

• "My young millennial children have excellent credit because they do without rather than borrowing or maintaining a credit card balance. My daughter was told she has the excellent credit of an older boomer. They are lower income individuals and a home purchase seems like an impossible dream - especially if they stay in the area. Penalizing them with a higher interest rate makes homeownership less possible."
• "Punishing those with good credit is unfair. Low income does not = poor credit. Many low income workers have good credit and this law will make home ownership even more difficult to achieve, if not impossible. Terrible move by this administration, it will affect how people vote."
• "Why are we punishing the responsible to benefit the irresponsible? Those is us who pay our bills on time and have good credit shouldn’t be penalized. It’s already an expensive housing market, making it more expensive isn’t going to make this more equitable."
• "I don't think it's right to penalize those who have worked hard to establish and maintain good credit. Poor credit is a function of taking out more debt than you can afford. From an accessibility standpoint, someone with low income can still have a good credit score and someone with higher income can still have bad credit, depending on how they manage their money and spending."