Originating & Underwriting

Credit Score Models

Fannie Mae tests and validates required credit score models for accuracy, reliability, and integrity.

 

Credit Score Model Validation

In accordance with the requirements of the Validation and Approval of Credit Score Models Rule (12 C.F.R. Part 1254), Fannie Mae has performed the required assessments for the Classic FICO credit score model and determined that Classic FICO should be approved for continued use by Fannie Mae. The Federal Housing Finance Agency has reviewed and approved this determination. This is an incremental step while Fannie Mae continues to assess additional credit score model applications. (Nov. 10, 2020)

Joint Enterprise Credit Score Solicitation

In accordance with the requirements of the Validation and Approval of Credit Score Models Rule (12 C.F.R. Part 1254), Fannie Mae and Freddie Mac (collectively, the “Enterprises”) have published the following Credit Score Solicitation to request applications from prospective credit score model developers (“Applicant”). 

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How Fannie Mae and our lenders use credit score models in mortgage lending

Selling Guide: General Requirements for Credit Scores

The Enterprises have received applications in response to this Credit Score Solicitation and are assessing them in accordance with the Rule. 

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