News came out that those with a credit score of 680 or higher will have to pay a fee on their mortgage if they buy or refinance a mortgage after May 1st to subsidize those with lower credit scores seeking mortgages. Also, those who make down payments of 15-20% will get crushed with the largest fees. I think this is absolutely terrible for the economy and this nation. People who can't afford houses will have a better chance of getting approved for mortgages and those who contribute to society now have to serve a punishment for their hard work. This will cause another housing market crash. Get ready!!!
Would love to hear your guys' opinions on this! How bad will this be for our economy?