What This Bill Does
This bill would amend the Equal Credit Opportunity Act so mortgage lenders must consider certain additional credit information when deciding whether to make a home loan. The goal is to let borrowers be evaluated on a fuller picture of their payment history, not just the narrow credit data that often drives traditional scoring. It would mainly affect homebuyers and mortgage applicants, along with the banks and lenders that underwrite those loans. The bill would change how credit is assessed, but it does not set a dollar amount or create a new lending program.
- Requires mortgage creditors to consider certain additional credit information.
- Amends the Equal Credit Opportunity Act.
- Applies to mortgage loan underwriting and related lending decisions.
- Could expand access for borrowers with thin or limited credit files.
Who This Bill Affects
If you are shopping for a mortgage, this bill could make it easier for lenders to recognize rent, utility, or similar payment histories that are not always captured in traditional credit scores. That may improve approval odds or loan terms for some borrowers with limited conventional credit files, while also pushing lenders to update how they evaluate applications. For people who already have strong credit histories, the direct effect would likely be limited.
See how this bill affects you — sign in for a personalized analysisWho Supports & Opposes This
- First-time homebuyers and renters with thin credit files They argue that reliable rent and utility payment histories can show real creditworthiness even when traditional scores are weak or incomplete. Using more data could help more qualified applicants get approved for mortgages.
- Consumer advocates focused on fair lending They say the current system can exclude people who manage money responsibly outside the conventional credit ecosystem. Requiring lenders to look at additional information could reduce unnecessary barriers and make mortgage decisions more inclusive.
- Lenders seeking more accurate risk assessment Some creditors may support broader data use because it can improve underwriting by distinguishing truly risky borrowers from people whose credit history is simply incomplete. That can help expand the pool of qualified borrowers without abandoning risk standards.
- Mortgage lenders and compliance officers They may argue that adding new categories of credit information increases verification burdens, system costs, and legal exposure. Lenders also may worry about inconsistent data quality and how to standardize its use across applications.
- Privacy-focused consumer groups They may be concerned that broader data collection could expose more personal payment behavior and create new risks if information is shared, scored, or stored improperly. The more data lenders use, the greater the need for strict limits and safeguards.
- Traditional credit scoring firms and underwriting vendors They may resist changes that reduce reliance on established scoring models or require expensive updates to underwriting systems. They could argue that new data sources are not always comparable across borrowers or providers.
Key Implications
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““consider certain additional credit information””
This is the core change: lenders would have to look beyond the usual credit file when evaluating a mortgage applicant. In practice, that can help borrowers who pay bills reliably but do not have a long conventional credit history.
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““when making mortgage loans””
The requirement is tied to home lending, not all consumer credit. Its main effect would be felt by mortgage applicants, mortgage companies, banks, and housing finance systems.
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““amend the Equal Credit Opportunity Act””
Linking the change to this civil rights-era lending law signals a fair-lending approach. It suggests Congress is trying to reduce structural disadvantages in how creditworthiness is measured.
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““and for other purposes””
This is a common legislative catchall that can allow related mortgage or credit-assessment details to be included in the final bill. It leaves room for technical implementation choices during the committee process.
Latest Status
June 18, 2026
Referred to the House Committee on Financial Services.
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Ask AI about this billData sourced from api.congress.gov.