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Validation and Approval of Credit Score Models

Publication Details
Type
Proposed Rulemaking
Document Number
2018-27565
Federal Register Publish Date
12/21/2018
Federal Register Citation
83 FR 65575
PDF Format
Comment Open Date
12/13/2018
Comment End Date
03/21/2019
Comment Status
Closed
Rulemaking Details
Rulemaking

Validation and Approval of Credit Score Models

Contact Information

​FOR FURTHER INFORMATION CONTACT: Beth Spring, Senior Policy Analyst, Housing & Regulatory Policy, Division of Housing Mission and Goals, at (202) 649-3327, Elizabeth.Spring@fhfa.gov, or Kevin Sheehan, Associate General Counsel, (202) 649-3086, Kevin.Sheehan@fhfa.gov. These are not toll-free numbers. The mailing address is: Federal Housing Finance Agency, 400 Seventh Street, SW., Washington, DC 20219. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

Summary

SUMMARY: The Federal Housing Finance Agency (FHFA) is proposing a rule on the process for validation and approval of credit score models by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (together, the Enterprises). The proposed rule would define a four-step process for an Enterprise to validate and approve credit score models, including: (1) the solicitation of applications from credit score model developers, (2) an initial review of submitted applications, (3) a Credit Score Assessment by an Enterprise, and (4) an Enterprise Business Assessment. FHFA requests public comment on all aspects of this proposed rule.

DATES: FHFA will accept written comments on the proposed rule on or before March 21, 2019.

Public Comments people-icon

Below are a compilation of public comments made on this publication.

61 items
CSV
Date First Name Last Name Organization Comment
Represetative Jim Himes Members of Congress View Comment Email: N/A
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Consumers' Research View Comment Email: N/A
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Joseph Pigg American Bankers Association View Comment Email: jpigg@aba.com
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Patrick Walker PERC View Comment Email: N/A
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Joe Mellman TransUnion LLC View Comment Email: N/A
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Roy DeLoach National Association of Mortgage Brokers (NAMB) View Comment Email: N/A
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Ken Fears National Association of REALTORS View Comment Email: kfears@realtors.org
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Gerron Levi National Community Reinvestment Coalition View Comment Email: glevi@ncrc.org
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Barbara Berens Berens & Miller, P.A. View Comment Email: bberens@berensmiller.com
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James Woodward FICO View Comment Email: jimwoodward@fico.com
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Mitria Wilson Credit Union National Association View Comment Email: mitriawil@yahoo.com
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James Wehmann FICO View Comment Email: JimWehmann@fico.com
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Robert Broeksmit Mortgage Bankers Association View Comment Email: N/A
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Sally Greenberg National Consumers League View Comment Email: sallyg@nclnet.org
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The Honorable David N. Cicilline N/A View Comment Email: N/A
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Anne Canfield Consumer Mortgage Coalition View Comment Email: anne@canfieldassoc.com
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Stephanie Gunselman Equifax Inc. View Comment Email: N/A
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Thomas Aiello National Taxpayers Union View Comment Email: thomas.aiello@ntu.org
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Barrett Burns VantageScore Solutions LLC View Comment Email: barrettburns@vantagescore.com
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Noerena Limon National Association of Hispanic Real Estate Profe View Comment Email: nlimon@nahrep.org
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Barry Zigas Consumer Federation of America View Comment Email: bzigas@consumerfed.org
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Kristi Luzar Urban Economic Development Association of WI View Comment Email: kristi@uedawi.org
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Melissa Stegman Center for Responsible Lending View Comment Email: melissa.stegman@responsiblelending.org
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Terry Clemans National Consumer Reporting Association View Comment Email: tclemans@ncrainc.org
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Kristi Luzar Urban Economic Development Association of WI View Comment Email: kristi@uedawi.org
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