Sec. 1328. REGULATIONS FOR USE OF CREDIT SCORES

154 words·~1 min read·/statute-compilations/comps-10705/sec-1328

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 1328 REGULATIONS FOR USE OF CREDIT SCORES **[**[12 U.S.C. 4548](/us/usc/t12/s4548)**]** The Director shall— ####

(1)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 (12 U.S.C. 1717(b)(7)) and section 305(d) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(d)); and ####

(2)ensure that any credit scoring model that is validated and approved by an enterprise under section 302(b)(7) (12 U.S.C. 1717(b)(7)) of the Federal National Mortgage Association Charter Act or section 305(d) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(d)) meets the requirements of clauses (i), (ii), and

(iii)of section 302(b)(7)(C) of the Federal National Mortgage Association Charter Act and subparagraphs (A), (B), and

(C)of section 305(d)(3) of the Federal Home Loan Mortgage Corporation Act, respectively. #### Subpart B Housing Goals

Connectionstraces to 3

Traces to 3 documents

U.S. Code

Citation graph

cites case law

Sec. 1328

REGULATIONS FOR USE OF CREDIT SCORES

U.S.C.§ 4548

U.S.C.§ 1717

U.S.C.§ 1454

Cites 3Cited by 0 across 0 sources