USMI Statement on Recent Credit Score Model Announcement
USMI released the following statement on the FHFA’s recent announcement on credit score models:
As long-term holders and managers of first loss risk in the housing finance system, U.S. Mortgage Insurers (USMI) supports the U.S. Federal Housing Finance Agency’s (FHFA) goal of modernizing the credit score models used by Fannie Mae and Freddie Mac (collectively the GSEs) to promote prudent risk management while efficiently serving low down payment borrowers. USMI and its members are committed to working with FHFA, the GSEs, and other industry partners to navigate the credit and operational considerations necessary to implement the recently announced changes on the GSEs’ timetable. We look forward to continued collaboration with FHFA and the GSEs and helping more Americans achieve the dream of homeownership.
