CHLA Commends FHFA Announcement of the Next Phase of Public Engagement Process for Updated Credit Score Requirements

CHLA Commends FHFA Announcement of the Next Phase of Public Engagement Process for Updated Credit Score Requirements

(Washington, DC) CHLA Executive Director Scott Olson released the following statement regarding FHFA’s announcement about the next phase of the public engagement for updated credit score requirements.

“CHLA commends Director Thompson for announcing public listening sessions on the transition to updated credit score models and credit report requirements for loans acquired by Fannie Mae and Freddie Mac. CHLA recently sent a letter publicly supporting FHFA and encouraging them to slow the implementation of the credit score process.  We look forward to continuing to work with Director Thompson, and her staff, at developing a credit scoring model for the GSEs which support and protects all borrowers.”