This is nothing but an asset cash generating scheme. PE and RE investment firms have been lobbying for this for years. They saw the success of the 14 day drug rehab scam and how it turned a 4 bedroom neighborhood home into a $50,000 per month medi-cal cash cow.Also regarding the OP, to me, this is a shitty idea if it's for any home purchase and not for only legal citizens/residents who don't currently own a home anywhere in the US.
Otherwise, it's just going to tack on 45% to the Blackrock/residential-real-estate-as-monthly-recurring-revenue-generating-asset price.
If California democrats have a sh!t about the poor or minorities...... kids wouldn't be stepping over junkies having sex on their way to school, have to dodge stray bullets in their neighborhoods, schools wouldn't be 100% dysfunctional. This is by design in California all in the name of power by causing desperation.