3.0.0 4211 2023-01-11T13:32:29Z 2023-01-11T13:32:29Z House HR 2015-12-10 114 [Congressional Record Volume 161, Number 179 (Thursday, December 10, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ROYCE:H.R. 4211.Congress has the power to enact this legislation pursuantto the following:Under Article I, Section 8, Clause 3 of the U.S.Constitution to regulate commerce.[Page H9270]]]> hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Hearings by 2016-09-27T19:56:39Z Referred to 2015-12-10T15:01:30Z 2016-09-27 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. Committee 2015-12-10 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-12-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-12-10 Introduced in House IntroReferral 1000 9 Library of Congress R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 N S001185 Rep. Sewell, Terri A. [D-AL-7] Terri Sewell D AL A. 7 2015-12-10 True H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 2015-12-15 False S001191 Rep. Sinema, Kyrsten [D-AZ-9] Kyrsten Sinema D AZ 9 2015-12-15 False P000606 Rep. Pittenger, Robert [R-NC-9] Robert Pittenger R NC 9 2015-12-16 False M001137 Rep. Meeks, Gregory W. [D-NY-5] GREGORY MEEKS D NY W. 5 2016-02-09 False W000820 Rep. Walters, Mimi [R-CA-45] Mimi Walters R CA 45 2016-06-03 False C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2016-09-06 False T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2016-09-21 False 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 Housing and Community Development 00 2015-12-10 Introduced in House 2016-01-11T21:18:51Z 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.

]]> Credit Score Competition Act of 2015 Display Title Credit Score Competition Act of 2015 Official Title as Introduced To require Fannie Mae and Freddie Mac to establish procedures for considering certain credit scores in making a determination whether to purchase a residential mortgage, and for other purposes. Introduced in House IH Short Titles as Introduced Credit Score Competition Act of 2015 Introduced in House 2015-12-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4211ih/xml/BILLS-114hr4211ih.xml 2016-09-27 Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.