NAR Comment Letter to FHFA Regarding Validation and Approval of Credit Models

Issue Date: March 21, 2019


On March, 21, NAR submitted comments in response to the Federal Housing Finance Agency’s (FHFA) notice of proposed rulemaking (NPRM) on Validation and Approval of Credit Score Models. NAR has long advocated for a reassessment of the entire credit structure and an exploration of paths to increase the availability of mortgage credit to credit-qualified borrowers. NAR appreciates the FHFA’s efforts to develop a framework for reviewing and introducing new credit models to the government sponsored enterprises (GSEs), but remains concerned about the ability to foster innovations in an environment with no competition.