Fannie Mae and Freddie Mac use of credit score models (12/21/18)
| Agency | FHFA |
| Action | Proposed rule |
| Date | 12/21/18 |
| Link | https://www.federalregister.gov/documents/2018/12/21/2018-27565/validation-and-approval-of-credit-score-models |
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The Federal Housing Finance Agency is proposing a rule on the process for validation and approval of credit score models by Fannie Mae and Freddie Mac. Fannie and Freddie are not required to use third party credit scores, but if one of them elects to condition the purchase of a mortgage loan on the provision of a borrower’s credit score, that credit score must be produced by a model that has been validated and approved. |
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