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Credit Scores

 

On February 18, 2020, Federal Housing Finance Agency (FHFA) announced Fannie Mae and Freddie Mac (the Enterprises) have published a Joint Credit Score Solicitation.    

The Credit Score Solicitation describes the process for credit score model developers to submit applications to the Enterprises. The Enterprises will begin accepting applications on May 18, 2020. The application period will be open for 120 days, ending on September 15, 2020. 

The validation and approval of credit score models will be a multiyear effort by the Enterprises under requirements established by FHFA's final rule on the process for validation and approval of credit score models.  FHFA's rule implements the requirements in Section 310 of the Economic Growth, Regulatory Relief, and Consumer Protection Act enacted on May 24, 2018.  

Link to Fannie Mae Credit Score Solicitation

Link to Freddie Mac Credit Score Solicitation

 

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Resources


Final Rule Resources

News Release: FHFA Publishes Final Rule on Credit Score Models (8/13/2019)

Final Rule: Validation and Approval of Credit Score Models (8/13/2019)

Fact Sheet: Validation and Approval of Credit Score Models - Final Rule (8/13/2019)

Proposed Rule Resources

Webinar Recording: Validation and Approval of Credit Score Models Proposed Rule(1/9/2019)

Webinar Transcript: Validation and Approval of Credit Score Models Proposed Rule (1/9/2019) 

Webinar Slide Presentation: Validation and Approval of Credit Score Models Proposed Rule (1/9/2019)  

Proposed Rule: Validation and Approval of Credit Score Models by the Enterprises (12/13/2018)

News Release: FHFA Issues Proposed Rule on Validation and Approval of Credit Score Models (12/13/2018)

FHFA Fact Sheet: Validation and Approval of Credit Score Models by the Enterprises (12/13/2018)

Decision to Shift Focus to Implementation of the Act

News Release: FHFA Announces Decision to Stop Credit Score Initiative (7/23/2018)

Infographic: Mortgage Industry Use of Credit Scores (7/23/2018)

Request for Input

News Release: FHFA Extends Deadline to March 30 for Request for Input on Fannie Mae and Freddie Mac Credit Score Requirements (2/2/2018)

FHFA Insights Blog: FHFA Needs Your Feedback on Credit Score Requirements (1/18/2018)

News Release: FHFA Issues Request for Input on Fannie Mae and Freddie Mac Credit Score Requirement (12/20/2017)

View Request for Input (Input was due March 30, 2018)

View Input Submitted (Select Credit Score in the pull down)​​

Page last updated:  February 18, 2020

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