,,ii #aag? ,,congress #a/ ,session ,s4 #ahch ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,may #bf1 #bjba ,mr4 ,scott ( ,s\? ,c>ol9a 7= himself & ,mr4 ,blum5?al7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,vet]ans' ,affairs ,a ,,bill ,to require ! ,secret>y ( ,vet]ans ,affairs to c>ry out a pilot program on us+ alt]native cr$it scor+ in=mation = vet]ans & memb]s ( ! ,arm$ ,=ces1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,build+ ,cr$it ,access = ,vet]ans ,act ( #bjba4 #b4 ,dep>tm5t ( ,vet]ans ,affairs pilot program on use ( alt]native cr$it scor+ in=mation or cr$it scor+ models 7a7 ,pilot program requir$ 7#a7 ,9 g5]al ,n lat] ?an "o ye> aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,vet]ans ,affairs %all comm5ce c>ry+ out a pilot program t w assess ! feasibility & advisability (-- 7,a7 us+ alt]native cr$it scor+ in=mation or cr$it scor+ models us+ alt]native cr$it scor+ me?odology = an individual describ$ 9 p>agraph 7#b7-- 7i7 to improve ! det]m9ation ( cr$itwor?9ess ( su* an individual2 & 7ii7 to increase ! numb] ( su* individuals :o are able to obta9 a loan gu>ante$ or insur$ "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code2 & 7,b7 9 consultation ) su* entities z ! ,secret>y consid]s appropriate1 e/abli%+ crit]ia = acceptable comm]cially available cr$it scor+ models to be us$ by l5d]s = ! purpose ( gu>antee+ or insur+ a loan "u *apt] #cg ( title #ch1 ,unit$ ,/ate ,code4 7#b7 ,individual describ$ ,an individual describ$ 9 ?is p>agraph is a vet]an or a memb] ( ! ,arm$ ,=ces :o-- 7,a7 is eligible = a loan "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code2 & 7,b7 has an insuffici5t cr$it hi/ory = a l5d] or ! ,secret>y to det]m9e ! cr$itwor?9ess ( ! individual4 7#c7 ,alt]native cr$it scor+ in=mation ,alt]native cr$it scor+ in=mation describ$ 9 p>agraph 7#a77;,a7 may include pro( ( r5t1 utility1 & insurance paym5t hi/ories1 & su* o!r in=mation z ! ,secret>y consid]s appropriate4 7b7 ,volunt>y p>ticipation 7#a7 ,9 g5]al ,! ,secret>y %all ensure t any p>ticipation 9 ! pilot program is volunt>y on an opt-9 basis = a l5d]1 a borr[]1 & an individual describ$ 9 subsection 7a77#b74 7#b7 ,notice ( p>ticipation ,subject to p>agraph 7#c71 any l5d] :o p>ticipates 9 ! pilot program %all-- 7,a7 notify ea* individual describ$ 9 subsection 7a77#b7 :o1 dur+ ! pilot program1 applies = a loan "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 f su* l5d]1 ( ! l5d]'s p>ticipation 9 ! pilot program2 & 7,b7 (f] su* individual ! opportunity to p>ticipate 9 ! pilot program4 7#c7 ,limitation 7,a7 ,9 g5]al ,! ,secret>y may e/abli% a limitation on ! numb] ( individuals & l5d]s t may p>ticipate 9 ! pilot program4 7,b7 ,report ,if ! ,secret>y limits p>ticipation 9 ! pilot program "u subp>agraph 7,a71 ! ,secret>y %all1 n lat] ?an #ae days aft] e/abli%+ su* limitation1 submit to ,congress a report sett+ =? ! reasons = e/abli%+ su* limitation4 7c7 ,approval ( cr$it scor+ models 7#a7 ,9 g5]al ,a l5d] p>ticipat+ 9 ! pilot program may n use a cr$it scor+ model "u subsection 7a77#a77;,a7 until ! ,secret>y has review$ & approv$ su* cr$it scor+ model = purposes ( ! pilot program4 7#b7 ,publication ( crit]ia ,! ,secret>y %all publi% 9 ! ,f$]al ,regi/] any crit]ia e/abli%$ "u subsection 7a77#a77;,b7 = acceptable comm]cially available cr$it scor+ models t use alt]native cr$it scor+ in=mation describ$ 9 subsection 7a77#a77;,a7 to be us$ = purposes ( ! pilot program4 7#c7 ,consid]ations2 approval ( c]ta9 models ,9 select+ cr$it scor+ models to approve "u ?is section1 ! ,secret>y %all-- 7,a7 consid] ! crit]ia = cr$it score assessm5ts "u section #abed4g ( title #ab1 ,code ( ,f$]al ,regulations2 & 7,b7 approve any comm]cially available cr$it scor+ model t has be5 approv$ pursuant to section #cjb7;b77#g7 ( ! ,f$]al ,national ,mortgage ,association ,*>t] ,act 7#ab ,u4,s4,c4 #agag7;b77#g77 or section #cje7;d7 ( ! ,f$]al ,home ,loan ,mortgage ,corporation ,act 7#ab ,u4,s4,c4 #aded77;d774 7d7 ,outrea* ,to ! ext5t practicable1 ! ,secret>y %all conduct outrea* to l5d]s & individuals describ$ 9 subsection 7a77#b7 to in=m su* p]sons ( ! pilot program4 7e7 ,report 7#a7 ,9 g5]al ,n lat] ?an two ye>s aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y %all submit to ,congress a report on ! pilot program4 7#b7 ,cont5ts ,! report submitt$ "u p>agraph 7#a7 %all include ! foll[+3 7,a7 ,! f9d+s ( ! ,secret>y ) respect to ! feasibility & advisability ( us+ alt]native cr$it scor+ in=mation or cr$it scor+ models us+ alt]native cr$it scor+ me?odology = individuals describ$ 9 subsection 7a77#b74 7,b7 ,a description ( ! ef=ts ( ! ,secret>y to assess ! feasibility & advisability ( us+ alt]native cr$it scor+ in=mation or cr$it scor+ models z describ$ 9 subp>agraph 7,a74 7,c7 ,to ! ext5t practicable1 ! foll[+3 7i7 ,! rate ( p>ticipation 9 ! pilot program4 7ii7 ,an assessm5t ( :e!r p>ticipants 9 ! pilot program b5efitt$ f su* p>ticipation4 7,d7 ,an assessm5t ( ! effect ( ! pilot program on ! subsidy rate = loans gu>ante$ or insur$ by ! ,secret>y "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code4 7,e7 ,su* o!r in=mation z ! ,secret>y consid]s appropriate4 7f7 ,t]m9ation 7#a7 ,9 g5]al ,! ,secret>y %all complete ! pilot program requir$ by subsection 7a77#a7 n lat] ?an ,septemb] #cj1 #bjbe4 7#b7 ,effect on loans & applications ,! t]m9ation ( ! pilot program "u p>agraph 7#a7 %all n affect a loan gu>ante$1 or = :i* loan applications h be5 receiv$ by a p>ticipat+ l5d]1 on or be=e ! date ( ! completion ( ! pilot program4 7g7 ,insuffici5t cr$it hi/ory def9$ ,9 ?is section1 ! t]m insuffici5t cr$it hi/ory1 ) respect to an individual describ$ 9 subsection 7a77#b71 means t ! individual does n h a cr$it record ) "o ( ! national cr$it report+ ag5cies or su* cr$it record conta9s insuffici5t cr$it in=mation to assess cr$itwor?9ess4