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  • Comment Detail

  • Date: 04/24/23
    First Name: Steven
    Last Name: Bates
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AB29

  • Comment

    I am currently a renter and have been for the last 15 years. I was a pell grant recipient and graduated college with substantial student loans. I focused on paying off my student loans as aggressively as I could while saving for retirement and am finally debt free and saving for a down payment. These proposed rules have good intentions but the execution doesn’t seem very thought through. These fees are going to help the people targeted but at the expense of the middle class, people that have been responsible with their finances and have worked very hard toward home ownership. I voted for the president that said that he would go after wealthy people, making over $400,000, not the middle class. If you are making $400k per year, you don’t need a loan because you have the luxury of paying cash for houses. If you are a publicly traded company on Wall Street, you don’t need a loan because you have the largest crowd sourcing at your fingertips. Please don’t punish the middle class and focus your attention on the people that can afford the extra fees. Waiving the fees for first time home buyers or guaranteeing faster closing with government loans for first time buyers or literally almost anything else could help your targeted demographic without harming the rest of the middle class.