(2) PUBLICATION OF CRITERIA.—The Secretary 
shall publish in the Federal Register any criteria es-
tablished under subsection (a)(1)(B) for acceptable 
commercially available credit scoring models that use 
alternative credit scoring information described in 
subsection (a)(1)(A) to be used for purposes of the 
pilot program. 
(3) CONSIDERATIONS; APPROVAL OF CERTAIN 
MODELS.—In selecting credit scoring models to ap-
prove under this section, the Secretary shall— 
(A) consider the criteria for credit score 
assessments under section 1254.7 of title 12, 
Code of Federal Regulations; and 
(B) approve any commercially available 
credit scoring model that has been approved 
pursuant to section 302(b)(7) of the Federal 
National Mortgage Association Charter Act (12 
U.S.C. 1717(b)(7)) or section 305(d) of the 
Federal Home Loan Mortgage Corporation Act 
(12 U.S.C. 1454(d)). 
(d) OUTREACH.—To the extent practicable, the Sec-
retary shall conduct outreach to lenders and individuals 
described in subsection (a)(2) to inform such persons of 
the pilot program. 
(e) REPORT.— 
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(1) IN
GENERAL.—Not later than two years 
after the date of the enactment of this Act, the Sec-
retary shall submit to Congress a report on the pilot 
program. 
(2) CONTENTS.—The report submitted under 
paragraph (1) shall include the following: 
(A) The findings of the Secretary with re-
spect to the feasibility and advisability of using 
alternative credit scoring information or credit 
scoring models using alternative credit scoring 
methodology for individuals described in sub-
section (a)(2). 
(B) A description of the efforts of the Sec-
retary to assess the feasibility and advisability 
of using alternative credit scoring information 
or credit scoring models as described in sub-
paragraph (A). 
(C) To the extent practicable, the fol-
lowing: 
(i) The rate of participation in the 
pilot program. 
(ii) An assessment of whether partici-
pants in the pilot program benefitted from 
such participation. 
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(D) An assessment of the effect of the 
pilot program on the subsidy rate for loans 
guaranteed or insured by the Secretary under 
chapter 37 of title 38, United States Code. 
(E) Such other information as the Sec-
retary considers appropriate. 
(f) TERMINATION.— 
(1) IN GENERAL.—The Secretary shall complete 
the pilot program required by subsection (a)(1) not 
later than September 30, 2026. 
(2) EFFECT ON LOANS AND APPLICATIONS.— 
The termination of the pilot program under para-
graph (1) shall not affect a loan guaranteed, or for 
which loan applications have been received by a par-
ticipating lender, on or before the date of the com-
pletion of the pilot program. 
(g) INSUFFICIENT CREDIT HISTORY DEFINED.—In 
this section, the term ‘‘insufficient credit history’’, with 
respect to an individual described in subsection (a)(2), 
means that the individual does not have a credit record 
with one of the national credit reporting agencies or such 
credit record contains insufficient credit information to as-
sess creditworthiness. 
Æ 
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