In a bipartisan 230-189 vote, 14 Democrats joined the Republican majority to approve the repeal of the Federal Housing Finance Agency’s mortgage rule.
Rep. Warren Davidson, the Ohio Republican who authored the bill, said the explicit purpose of the rule change was to grow revenue for the government-backed lenders. Mr. Davidson said that “most Americans would likely be hurt” by the rule change because the average credit rating in the country is over 700.
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