Managing Editor, National Mortgage Professional
With an announcement reportedly possible, the fight over two-bureau versus tri-merge credit reports is putting cost, borrower outcomes, and lender choice in the spotlight
A long-running fight over the industry’s three-bureau credit report requirement is coming to a head, with the Federal Housing Finance Agency (FHFA) reportedly preparing to make its next move.
FHFA Director Bill Pulte is said to announce as soon as Oct. 12 that Fannie Mae and Freddie Mac will move toward allowing credit data from two of the three nationwide credit bureaus rather than requiring all three. Pulte is scheduled to appear that day with Mortgage Bankers Association President and CEO Bob Broeksmit at MBA’s Annual Convention in Chicago.
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