Accurate Credit Reporting for Homebuyers Act This bill requires lenders at government-sponsored enterprises (i.e., Fannie Mae and Freddie Mac) to obtain a borrower’s consumer report and credit score from all three of the national credit reporting agencies when purchasing a residential mortgage loan. Currently, lenders are allowed to use either two or three credit reports.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Accurate Credit Reporting for Homebuyers Act
USA118th CongressHR-7857| House
| Updated: 4/2/2024
Accurate Credit Reporting for Homebuyers Act This bill requires lenders at government-sponsored enterprises (i.e., Fannie Mae and Freddie Mac) to obtain a borrower’s consumer report and credit score from all three of the national credit reporting agencies when purchasing a residential mortgage loan. Currently, lenders are allowed to use either two or three credit reports.