credit score
Defined in 2 places across 2 titles of the United States Code.
In this subsection, the term “credit score” means a numerical value or a categorization created by a third party derived from a statistical tool or modeling system used by a person who makes or arranges a loan to predict the likelihood of certain credit behaviors, including default.
Source
- 2018–present12 U.S.C. § 1454Banks and Banking · Purchase and sale of mortgages; residential mortgages; conventional mortgages; terms and conditions of sale or other disposition; authority to enter into, perform, and carry out transactions · in this section
The term “credit score”—
(i) means a numerical value or a categorization derived from a statistical tool or modeling system used by a person who makes or arranges a loan to predict the likelihood of certain credit behaviors, including default (and the numerical value or the categorization derived from such analysis may also be referred to as a “risk predictor” or “risk score”); and
(ii) does not include—
(I) any mortgage score or rating of an automated underwriting system that considers one or more factors in addition to credit information, including the loan to value ratio, the amount of down payment, or the financial assets of a consumer; or
(II) any other elements of the underwriting process or underwriting decision.
Source
- 2003–present15 U.S.C. § 1681GCommerce and Trade · Disclosures to consumers · under this subchapter