HR 898 115th 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 2017

Introduced: February 7, 2017 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 7, 2017

Referred to the House Committee on Financial Services.

Feb 7, 2017

Introduced in House

Plain-English summary Congressional Research Service

Credit Score Competition Act of 2017

This bill amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to allow the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), when determining whether to purchase a residential mortgage, to consider a borrower's credit score only if certain procedural requirements are met with respect to the validation and approval of credit-scoring models.

The Federal Housing Finance Agency may, by regulation, establish standards and criteria for processes used by Fannie Mae and Freddie Mac to validate and approve credit-scoring models in accordance with the bill.

What's happening now February 7, 2017

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1