Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act 2020-12-17 Reported to House Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act

This bill establishes a pilot program for an additional credit rating system for use by mortgage lenders. Specifically, the program utilizes one or more commercially available credit scoring models that apply additional credit information about borrowers who have insufficient credit histories for purposes of determining their creditworthiness for mortgages insured by the Federal Housing Administration.

]]> 2019-01-03 Introduced in House FHA Alternative Credit Pilot Program Reauthorization Act

This bill reauthorizes a pilot program for an alternative credit rating system for use by mortgage lenders. Specifically, the program provides credit information about borrowers who have insufficient credit histories for purposes of determining their creditworthiness for mortgages insured by the Federal Housing Administration.

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