Industry Groups Divided Over FHFA’s Proposed Options For Credit Scoring Strategies at Fannie and Freddie
April 19, 2018
The Consumer Federation of America agreed that the FICO score used by Fannie and Freddie is outdated and amounts to a monopoly on scoring. It supports the lender-choice option, but with constraints. The CFA recommended that lenders be required to pick a provider for a minimum period and said the models used by the two government-sponsored enterprises should align with one another.