Code · BILL · 115th Congress · S. 1685 (Introduced in Senate) — To require Fannie Mae and Freddie Mac to establish procedures for considering certain credit scores in making a deter... · Sec. 3

Sec. 3. Authority of Director of the Federal Housing Finance Agency

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Subpart A of part 2 of subtitle A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4541 et seq.) is amended by adding at the end the following: The Director may, by regulation, establish standards and criteria for any process used by an enterprise to validate and approve credit scoring models pursuant to section 302(b)(7) of the Federal National Mortgage Association Charter Act and section 305(d) of the Federal Home Loan Mortgage Corporation Act. .

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U.S. Code

Prior approval authority for products
§ 4541

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Sec. 3

Authority of Director of the Federal Housing Finance Agency

U.S.C.§ 4541

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