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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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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
Jane Melchionda EasCorp Please see attached comment letter.View Comment Email: N/A
Attachment: View Attachment
Hope Atuel Asian Real Estate Association of America Please view AREAA's comment letter attached. Thank you for your time.View Comment Email: atuel.hope@areaa.org
Attachment: View Attachment
Wendell Chambliss N/A Please see attached document jointly submitted by Freddie Mac and Fann…View Comment
Email: Wendell_Chambliss@freddiemac.com
Attachment: View Attachment
Julie Piepho Cornerstone Home Lending, Inc. Please see attached letter.View Comment Email: JPiepho@houseloan.com
Attachment: View Attachment
Alex Pollock R Street Institute Please see the attached response.View Comment Email: apollock@rstreet.org
Attachment: View Attachment
vanessa perry The George Washington University Dear Mr. Pollard: The purpose of this letter is to respond to FHFA’s r…View Comment
Email: vperry@gwu.edu
Attachment: View Attachment
Rick Arvielo New American Funding See attached commentView Comment Email: N/A
Attachment: View Attachment
John Gibbons N/A Thank you for the opportunity to comment on the proposed rule concerni…View Comment
Email: N/A
Attachment: View Attachment
FHFA FHFA FHFA Conference Call Summary with the Structured Finance Industry Group (SFIG) (February 25, 2019) See attached FHFA Conference Call Summary with the Structured Finance…View Comment
Email: N/A
Attachment: View Attachment
Richard Koss N/A Attached find my comment letter regarding validation and approval of c…View Comment
Email: N/A
Attachment: View Attachment
Ed Royce Member of Congress See attaached commentView Comment Email: N/A
Attachment: View Attachment