Financial trades desire FHFA to engage with market on credit rating proposition
As the Federal Housing Finance Agency thinks about how to shift to a brand-new credit history design or designs—as needed by the 2018 S. 2155 law—ABA and numerous other monetary trade groups prompted FHFA to supply the market with “additional data, a detailed transition plan that is subject to stakeholder input and ample time for any transition.”
The groups stressed that furnishers of credit should have “adequate insight to project performance,” in order to guarantee an extremely liquid secondary home loan market that eventually benefits customers. “To advance these goals and achieve these outcomes, we urge FHFA to engage in careful communication and planning to maintain lender and investor confidence through the transition to any new score or system of scores,” they stated.
