Federal Housing Finance Agency Print

Credit Scores


FHFA is seeking public comment on a proposed rule that would establish standards and criteria for validation and approval of third-party credit score models used by Fannie Mae and Freddie Mac (the Enterprises).  This proposed rule is required by Section 310 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (Public Law 115-174) enacted in May (the Act) which requires FHFA to define, through rulemaking, the standards and criteria the Enterpises will use to validate credit score models.


​In 2015, FHFA, Fannie Mae, and Freddie Mac (the Enterprises) began evaluating the potential impact of updating the Enterprises’ 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 credit score models independently analyzed by the Enterprises were – Classic FICO, FICO 9, and VantageScore 3.0.  The assessment was also limited to mortgage loan applications received by the Enterprises and mortgage loans acquired by the Enterprises.

In December 2017, FHFA issued a Request for Input (RFI) to gather additional feedback from all interested parties impacted by a possible change in the Enterprise requirements.  The RFI provided background information about how credit scores are used by the Enterprises and the mortgage industry, about the credit score models that FHFA and the Enterprises are evaluating, and about the credit score model options under consideration by FHFA.  The RFI also provided a discussion of operational and competition considerations in making a decision about the Enterprises’ credit score requirements.  Over 100 comments were submitted by the March 2018 deadline. 

On July 23, 2018, FHFA announced that the Agency will not make a decision in 2018 about updating the credit score model used by the Enterprises as previously announced.  FHFA has instead shifted focus to implementation of the Act.  The proposed rule issued on December 13, 2018 is the first major step in implementing the Act.

Contact Us

Submit your questions to us via email.



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)

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

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

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)

© 2019 Federal Housing Finance Agency