Earlier this year, the FHFA estimated that the bi-merge credit report change will not occur until the first quarter of 2024 at the earliest – with the implementation of the new credit score models expected to occur over two phases in late 2024 and 2025.

In September, the FHFA announced it now expects that the “implementation date for this bi-merge requirement will occur later than the first quarter of 2024, as was initially proposed.”

The agency has extended its engagement with the industry regarding the updated Enterprise credit score requirements and is continuing to gather feedback. It is holding stakeholder forums and listening sessions, allowing for the identification of a wide variety of issues, opportunities and challenges related to successful implementation of the new requirements and is refining the timeline.

Xactus continues to play an important role by providing feedback and offering input to the FHFA. Other interested parties who wish to participate can email [email protected]. More detailed information can be found in this press release. Rest assured, we are working diligently to ensure we are prepared to implement changes when they become effective and support the industry seamlessly with any transition.

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