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FHFA publishes final rule on third-party credit score models

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FHFA publishes final rule on third-party credit score models

The Federal Housing Finance Agency published a final rule on the validation and approval of third-party credit score models that can be used by Fannie Mae and Freddie Mac.

The rule will take effect 60 days after publication in the Federal Register. Also, within 60 days of this effective date, the regulator will initiate review of the materials Fannie Mae and Freddie Mac plan to use in the public solicitation process.