Sec. Turner on Fannie Mae and Freddie Mac Accepting Credit Scores for Rent, Utility Payments: Steps to Open Up the Credit Market for Credit-Worthy People

TRANSCRIPT:

TURNER: “Yes, sir. And, you know, the president has really been laser focused, you know, not only just keeping our country safe and our allies safe, but really here on the domestic front, to bringing housing affordability down for the American people. And you know what, Charles? Every dollar counts when people want to buy, Americans want to buy a home, and that also pertains to the fees that you have to pay when you’re getting a mortgage. It pertains to the regulatory environment. And so, now we’re increasing competition, we’re increasing the innovativeness, we’re increasing the rigor. This is for creditworthy, trustworthy people. You know, a lot of people have talked about it. President Trump had a law in 2018 to enact this, but now with Director Pulte, myself, the president and others, we are taking bold steps to open up the credit market for creditworthy people, for Gen. Z, millennial first-time homebuyers using the VantageScore, using the FICO 10T, so we’re excited about the days to come.”