H.R. 123 · 116th Congress
FHA Additional Credit Pilot Program Reauthorization Act
- Stage
- Reported from committee
- Sponsor
- Al Green
- Introduced
- 2019-01-03
- Latest action
- 2020-12-17 · Reported (Amended) by the Committee on Financial Services. H. Rept. 116-663.
Summary
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.