Rep. Thompson wants increased funding for MOBUCK$
is advocating for increased funding for the MOBUCK$ program, which assists local lenders in reducing interest rates for eligible buyers in Missouri. Through MOBUCK$, lenders can decrease interest rates by 2-3 percent. The program has engaged over 140 lenders in the state, allowing qualified borrowers to benefit from these savings.
On Dec. 6., Thompson filed House Bill (HB) 1803, a bill designed to introduce new provisions that would augment the MOBUCK$ program by $400 million, aiming to counter inflation and stimulate economic growth.
Collaborating with Missouri State Treasurer Vivek Malek, Thompson is pushing for the expansion of the program, which temporarily halted new applications in May due to overwhelming demand approaching the statutory cap of $800 million.
The MOBUCK$ program operates on an annual cycle from Oct. 1 through Sept. 30. In the most recent program year, it achieved a record-setting loan amount of nearly $539 million, bringing the total outstanding loans close to…