Validation and Approval of Credit Score Models

Date

08/16/2019

Number

RIN-2590-AA98

Group

Fannie Mae

Freddie Mac

CFR

12 CFR Part 1254

CFR Description

Validation and Approval of Credit Score Models

Effective Date

Tue, 10/15/2019 - 12:00

Validation and Approval of Credit Score Models

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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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: 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

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

61 items

CSV

Date Sort ascending	First Name	Last Name	Organization	Comment
03/29/19	Represetative Jim	Himes	Members of Congress	See attached comment letter from Representatives Jim Harris, Barry Lou… Email: N/A Attachment: View Attachment
03/28/19			Consumers' Research	See attached comment letter Email: N/A Attachment: View Attachment
03/21/19	Joseph	Pigg	American Bankers Association	Good Afternoon: Please see the enclosed comment letter regarding RIN 2… Email: jpigg@aba.com Attachment: View Attachment
03/21/19	Patrick	Walker	PERC	Comments are attached. Email: N/A Attachment: View Attachment
03/21/19	Joe	Mellman	TransUnion LLC	Please see attachment for TransUnion's comments Email: N/A Attachment: View Attachment
03/21/19	Roy	DeLoach	National Association of Mortgage Brokers (NAMB)	Comments of the National Association of Mortgage Brokers (NAMB) Email: N/A Attachment: View Attachment
03/21/19	Ken	Fears	National Association of REALTORS	On behalf of the 1.3 million members of the National Association of RE… Email: kfears@realtors.org Attachment: View Attachment
03/21/19	Gerron	Levi	National Community Reinvestment Coalition	March 21, 2019 Alfred M. Pollard General Counsel Federal Housing Finan… Email: glevi@ncrc.org Attachment: N/A
03/21/19	Barbara	Berens	Berens & Miller, P.A.	Comments/RIN 2590-AA98 Email: bberens@berensmiller.com Attachment: View Attachment
03/21/19	James	Woodward	FICO	With respect to the topic of credit score model developer independence… Email: jimwoodward@fico.com Attachment: View Attachment
03/21/19	Mitria	Wilson	Credit Union National Association	The comments of the Credit Union National Association are attached. Email: mitriawil@yahoo.com Attachment: View Attachment
03/21/19	James	Wehmann	FICO	FICO appreciates the opportunity to submit the attached comment letter… Email: JimWehmann@fico.com Attachment: View Attachment
03/21/19	Robert	Broeksmit	Mortgage Bankers Association	Please see attached. Email: N/A Attachment: View Attachment
03/21/19	Sally	Greenberg	National Consumers League	National Consumers League comments Email: sallyg@nclnet.org Attachment: View Attachment
03/21/19	The Honorable David N.	Cicilline	N/A	See attached for full letter. Text enclosed below. March 21, 2019 The… Email: N/A Attachment: View Attachment
03/21/19	Anne	Canfield	Consumer Mortgage Coalition	Attached please find comments from the Consumer Mortgage Coalition reg… Email: anne@canfieldassoc.com Attachment: View Attachment
03/21/19	Stephanie	Gunselman	Equifax Inc.	Please see the attached letter. Email: N/A Attachment: View Attachment
03/21/19	Thomas	Aiello	National Taxpayers Union	The attached comment letter is submitted on behalf of National Taxpaye… Email: thomas.aiello@ntu.org Attachment: View Attachment
03/21/19	Barrett	Burns	VantageScore Solutions LLC	please see attached document Email: barrettburns@vantagescore.com Attachment: View Attachment
03/21/19	Noerena	Limon	National Association of Hispanic Real Estate Profe	Comment Letter Attached. Email: nlimon@nahrep.org Attachment: View Attachment
03/21/19	Barry	Zigas	Consumer Federation of America	Comments submitted on behalf of Consumer Federation of America, Leader… Email: bzigas@consumerfed.org Attachment: View Attachment
03/21/19	Kristi	Luzar	Urban Economic Development Association of WI	Please see the attached letter, on behalf of a local homeownership con… Email: kristi@uedawi.org Attachment: View Attachment
03/21/19	Melissa	Stegman	Center for Responsible Lending	Please see attached comment letter on behalf of the Center for Respons… Email: melissa.stegman@responsiblelending.org Attachment: View Attachment
03/21/19	Terry	Clemans	National Consumer Reporting Association	Alfred M. Pollard, General Counsel Federal Housing Finance Agency - FH… Email: tclemans@ncrainc.org Attachment: View Attachment
03/21/19	Kristi	Luzar	Urban Economic Development Association of WI	Please see the attached letter on behalf of UEDA and its membership. Email: kristi@uedawi.org Attachment: View Attachment