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Credit Scores

As part of FHFA's 2015 and 2016 Scorecards for Fannie Mae, Freddie Mac, and Common Securitization Solutions, each Enterprise undertook an assessment of the potential impact of updating the Enterprise credit score requirement from Classic FICO to another score(s). The assessment was limited to third party credit score models available at all three national consumer reporting agencies, also known as credit bureaus or credit reporting agencies (CRAs).The assessment was also limited to mortgage loan applications received from lenders and mortgage loans acquired by the Enterprises.  The credit score models independently analyzed by the Enterprises were – Classic FICO, FICO 9, and VantageScore 3.0.

Request for Input

This Request for Input (RFI) is intended to gather feedback from all interested parties impacted by a possible change in the Enterprise requirements, including consumer groups and industry stakeholders that might have already provided input to FHFA.

The Credit Score RFI discusses the credit score models under consideration by FHFA; industry use of credit scores; credit score competition; and operational, timing, and other considerations.  It also includes questions on credit score usage, operational impacts of the options under consideration, issues related to competition in the credit score market, and possible changes to the tri-merge credit report requirement.

FHFA encourages stakeholders to provide meaningful and detailed responses to the RFI and to make those responses public whenever possible to inform broader public discourse on these issues.  However, FHFA also encourages stakeholders to contact FHFA if a stakeholder seeks to provide confidential or proprietary information as part of its response and wishes to request that the information not be made public.

View Request for Input (link to PDF)

Input was due by March 30, 2018 [input period now closed]

View Input Submitted

[Select Credit Score in the pull down]


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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)

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