What does Preamble of Original Additional Credit FHA Pilot Program Authorization 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 information is for mortgagors and prospective mortgagors under certain mortgages.

What does SHORT TITLE. of Original Additional Credit FHA Pilot Program Authorization Act do?

This bill is formally titled the "Original Additional Credit FHA Pilot Program Authorization Act".

What does PILOT PROGRAM FOR BORROWERS WITHOUT SUFFICIENT CREDIT HISTORY. of Original Additional Credit FHA Pilot Program Authorization 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 prepay an existing loan secured by the same property. The Secretary is required to select commercially available credit scoring models that utilize additional data after consulting with the Government National Mortgage Association. Prospective mortgagors must be notified of their ability to opt into the pilot program's credit scoring model and provided with information on how it differs from current FHA models. Mortgagees participating in the pilot program must provide information allowing comparison of lending options using the pilot program model and the standard FHA model. 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 is authorized to limit 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 Additional Credit FHA Pilot Program Authorization Act

Last updated: 4/16/2026 · Introduced: 4/16/2026

Author: Al Green (D-TX)

TL;DR (AI)

This bill establishes a pilot program within the Federal Housing Administration (FHA) to allow consideration of additional credit information for borrowers with limited credit history.
The pilot program requires notification and comparison of lending options between the new credit scoring model and the standard FHA model, ensuring borrowers understand the differences.
The bill allocates $3 million in 2023 and $1.5 million annually from 2024-2027 to fund the pilot program and mandates reports to Congress evaluating its impact.

119th Congressin committeeHR. 8292(In Committee)Official page

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Includes provisions on preamble, short title., and 1 more.

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