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HR 4211 114th Congress House Housing and Community Development Administrative law and regulatory procedures Consumer credit Federal Housing Finance Agency Government corporations and government-sponsored enterprises Housing finance and home ownership

Credit Score Competition Act of 2015

Introduced: December 10, 2015 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 27, 2016
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Dec 10, 2015
Referred to the House Committee on Financial Services.
Dec 10, 2015
Introduced in House
 Plain-English summary Congressional Research Service

Credit Score Competition Act of 2015

This bill amends the Federal National Mortgage Association Charter Act to authorize the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises, or GSEs) to use credit scores in purchasing residential mortgages only under certain conditions, including that the GSE has established and made publicly available a description of the process it will use to validate and approve credit scoring models.

The Director of the Federal Housing Finance Agency may, by regulation, establish standards and criteria for any process used by a GSE to validate and approve credit scoring models pursuant to the Acts.

What's happening now September 27, 2016

Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 3