and Freddie Mac
have published a Joint Credit Score Solicitation, which describes the process for credit score model developers to submit applications to the government-sponsored enterprises (GSEs).
The validation and approval of credit score models will be a multiyear effort required by a final rule issued by the Federal Housing Finance Agency (FHFA). The GSEs will begin accepting applications on May 18 and the application period runs through Sept. 15.
"The publication of the solicitation is the first step in the process of evaluating new credit score models," said FHFA Director Mark Calabria. “FHFA will ensure that the enterprises validate and approve credit score models in a timely and prudent manner, so that Americans continue to have a safe and sound path to sustainable homeownership."