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.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 22.
Placed on the Union Calendar, Calendar No. 547.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-663.
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 22.
Placed on the Union Calendar, Calendar No. 547.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-663.
Housing and Community Development
Consumer creditGovernment information and archivesGovernment lending and loan guaranteesHousing finance and home ownership
Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act
USA116th CongressHR-123| House
| Updated: 12/17/2020
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.