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How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.

FHFA issues credit score model validation rule

The Federal Housing Finance Agency (FHFA) reported yesterday it has issued a final rule on the validation and approval of third-party credit score models that can be used by Fannie Mae and Freddie Mac (the Enterprises). The rule implements the requirements in Section 310 of the Economic Growth, Regulatory Relief, and Consumer Protection Act enacted on May 24, 2018. The rule will become effective 60 days after publication in the Federal Register, which took place on 8/16/2019 [84 FR 41886], with an effective date of 10/15/2019.

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