Accurate Credit Reporting for Homebuyers Act
Summary
Accurate Credit Reporting for Homebuyers Act This bill requires lenders at government-sponsored enterprises (i.e., Fannie Mae and Freddie Mac) to obtain a borrower’s consumer report and credit score from all three of the national credit reporting agencies when purchasing a residential mortgage loan. Currently, lenders are allowed to use either two or three credit reports.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2024
Committee Review
Floor Vote
President
Introduced Apr 2, 2024
Last action Apr 2, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Apr 2, 2024
Committee
Referred to the House Committee on Financial Services.
lower
Apr 2, 2024
Introduced
Introduced in House
lower
1 primary · 5 co-sponsors
Sponsors
Ask Maddy
·
AI policy assistant
Ask Maddy about HR 7857
Scope: US
Hi! I can help you understand HR 7857. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline