Letter: Supplemental Comments & Recommendations to GSE Credit Score Industry Engagement Survey
USMI submitted supplemental comments & recommendations to Fannie Mae and Freddie Mac’s Credit Score Industry Engagement Survey to work towards facilitating a smooth transition to new credit score requirements while maintaining borrower access to mortgage financing backed by private capital in the conventional market and promoting robust risk management. USMI specifically requested: (1) adjustments to the implementation timeline; (2) robust stakeholder engagement; (3) earlier access to historical data; (4) further details on the impact to capital reporting and planning under the Private Mortgage Insurer Eligibility Requirements (“PMIERs”); and (5) clarity on consumer notifications under the Fair Credit Reporting Act (“FCRA”). Click here to read the letter.
