What does PILOT PROGRAM FOR BORROWERS WITHOUT SUFFICIENT CREDIT HISTORY. of Original Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act do?

This section amends Section 258 of the National Housing Act to establish and carry out a pilot program for borrowers without sufficient credit history. The pilot program allows mortgagors who elect to participate and have opted into using additional credit information to be considered. The pilot program may not be used for mortgages where proceeds are used to prepay existing loans. The Secretary is required to select commercially available credit scoring models that utilize additional data after consulting with the Government National Mortgage Association. Mortgagees are required to provide prospective mortgagors with notice of the pilot program, including information on how the pilot program model differs from existing models. The Secretary must submit reports to Congress evaluating the pilot program's effectiveness, including data on participation, approval rates, demographic information, and impact on the Mutual Mortgage Insurance Fund. The Secretary may establish a limitation to cap participation in the pilot program. There are authorized appropriations of $3,000,000 for fiscal year 2023 and $1,500,000 for each of fiscal years 2024 through 2027 to carry out the pilot program.

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Original Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act

Q: What does Preamble of Original Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act do?

This bill authorizes a pilot program under section 258 of the National Housing Act. The pilot program aims to establish an automated process. This process is intended to provide additional credit rating information. The program applies to mortgagors and prospective mortgagors under certain mortgages.

Q: What does SHORT TITLE. of Original Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act do?

This bill is formally titled the "Original Alternative Data for Additional Credit FHA Pilot Program Reauthorization Act".

Last updated: 4/15/2026 · Introduced: 4/15/2026

Author: Al Green (D-TX)

TL;DR (AI)

This bill reauthorizes and amends a pilot program allowing the Federal Housing Administration (FHA) to consider alternative credit data when evaluating borrowers with limited credit history.
The program requires mortgagees to notify prospective borrowers about the use of alternative credit scoring models and how they differ from traditional models.
The bill allocates a total of $4.5 million in funding over four years to support the pilot program and requires the Secretary to report on its effectiveness to Congress.

119th Congressin committeeHR. 8318(In Committee)Official page

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