FHFA Weighs Dropping Tri-Merge Credit Report Requirement for Fannie Mae and Freddie Mac Loans
The Federal Housing Finance Agency (FHFA) is considering requiring only one or two credit reports for single-family loans acquired by Fannie Mae and Freddie Mac, FHFA Director Bill Pulte said in posts on X, according to the ABA Banking Journal on October 19. Fannie Mae and Freddie Mac currently impose a tri-merge requirement, under which lenders pull merged reports from all three credit bureaus. Pulte wrote that the agency is studying the use of just one or two credit reports 'to bring even more savings than we already have to American consumers.'
Pulte also said FHFA is continuing to study the Loan-Level Price Adjustments (LLPAs) assessed by Fannie Mae and Freddie Mac, and that he anticipates a decision on whether there will be any changes before year end. Earlier this year, FHFA and the U.S. Department of Housing and Urban Development (HUD) announced the adoption of the FICO 10T and VantageScore 4.0 credit scoring models alongside Classic FICO for Federal Housing Administration (FHA) loans, while HUD decided to keep the three-report requirement for FHA loans. FHFA has not announced a specific proposal or timetable for the Fannie Mae and Freddie Mac change.
Published by GSM · USA (original Chinese edition)
Photo: 图：美国郊区住宅区航拍（资料图）。David Shankbone 摄，CC BY 3.0，经 Wikimedia Commons 发布。
