In a letter to the FHFA, a coalition of eight U.S. Senators are asking the Agency to implement reforms to credit scoring models that could impact access to creditworthy borrowers. Click through to read arguments from both sides of the issue.
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Credit Score Competition Act Reintroduced
The Credit Score Competition Act, which seeks to force giants Fannie Mae and Freddie Mac to use alternative scoring when evaluating home mortgage purchases, was reintroduced by U.S. Reps. Royce, Sinema, and Sewell.
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