To extend the pilot program under section 258 of the National Housing Act that establishes an automated process for providing alternative credit rating information for mortgagors and prospective mortgagors under certain mortgages.
FHA Alternative Credit Pilot Program Reauthorization Act of 2015
Amends the National Housing Act to extend from five to 10 years the pilot program to establish for mortgagees an automated process for providing alternative credit rating information on mortgagors and prospective mortgagors under mortgages on 1- to 4-family residences who have insufficient credit histories for determining their creditworthiness.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line