H.R. 123 · 118th Congress
Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act
- Stage
- In committee
- Sponsor
- Al Green
- Introduced
- 2023-01-09
- Latest action
- 2023-01-09 · Introduced in House
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 must utilize 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.