NAR Industry Consumer Coalition Support Letter Re Credit Score Competition Act
Issue Date: July 19, 2017
On July 19, 2017 NAR as part of an Industry Consumer Coalition sent a letter of support to Senators Scott and Warner. The letter cc's the full Senate Committee on Banking, Housing, and Urban Affairs. The letter commends the Senators for their continued focus on expanding access to credit for creditworthy homebuyers and, in particular, for what the signatories understand to be the legislators’ willingness to introduce bi-partisan legislation entitled the “Credit Score Competition Act.” The legislation, if enacted into law, will responsibly expand mortgage credit for millions of hardworking potential homebuyers without sacrificing credit standards by introducing innovation and market competition into the credit scoring system utilized by Fannie Mae and Freddie Mac (Enterprises).