Alternative Credit Scoring Model Possibility Delayed Until Post-CSP Implementation
August 10, 2017
Federal Housing Finance Agency Director Mel Watt said it will be at least two years until Fannie Mae and Freddie Mac will adopt alternative credit scoring models. A number of groups have been pushing the government-sponsored enterprises to look beyond the FICO score, and Fannie and Freddie have been studying the issue. But Watt said any major change will have to wait until the GSEs have completed the complex single-security project. “Based on the overwhelming feedback we have received from the industry, it is...
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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