Welcome, it is verdict with Senator Ted Cruz, Ben Ferguson.

With you, Senator, this show is going to be one that is going to irritate a lot of people.

The Biden new rule that he wants to put on the American people will redistribute high

risk loans and that will cost homeowners with good credit more money to get alone.

In translation, what he wants to do is give a bonus reward bad credit, bad credit scores

and then those that have good credit will pay higher interest rate.

This isn't a joke.

This is redistribution of a new way of doing it.

I guess you could say center with wealth, your reaction.

Well, it's even worse than that.

So this is a proposed rule that has come from Fannie Mae and Freddie Mac.

Our government sponsored entities that purchased mortgages and they have an enormous

impact, a dominant impact in the home mortgage market.

And under Joe Biden, they've rolled out new rules and the new rules do two things.

Number one, they benefit you if you have a low credit score.

So if your credit score is bad, if you've defaulted on rent payments, if you defaulted

on your mortgage before, if you failed to pay credit cards, if you have a low credit

score, your credit is cheaper.

And then the flip side is, if you've been responsible, if you've done the good work of paying

your bills, if you paid your rent on time, if you've had a home and you paid your mortgage

on time, either that credit cards and you paid them off, they penalize you.

They charge you more if you have a good credit score.

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