H.R. 4211 · 114th Congress
Credit Score Competition Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RoyceSponsor8 cosponsors · 4 D, 4 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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…
What it does: CRS summary · Introduced in House · Dec 10, 2015
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Credit Score Competition Act of 2015
Latest action (Sep 27, 2016): Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Policy area: Housing and Community Development · Origin: House · Introduced: Dec 10, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.