Letter: Joint Trade Letter to FHFA on Credit Score Models and Reports Initiative
On March 19, USMI joined the American Bankers Association, Housing Policy Council, Independent Community Bankers of America, Mortgage Bankers Association, and Structured Finance Association in sending a letter to FHFA Director Bill Pulte to provide collective recommendations on FHFA’s Credit Score Models and Reports Initiative. The letter outlines concerns that the Credit Score Models and Reports Initiative, as currently defined, is overly complex, costly to consumers, and missing key requirements that are necessary for a successful transition. Click here to read the coalition’s recommendations to FHFA.
