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Mortgage lenders need continuous AI governance for fair lending oversight
HousingWire says Fannie Mae’s and Freddie Mac’s new AI or machine learning governance requirements took effect on August 6, shifting the focus from checklists to ongoing model visibility.
HousingWire argues that AI governance in mortgage lending should work more like continuous fly-by-wire controls than a periodic compliance checkbox, with ongoing visibility into model behavior and drift.
The outlet says quarterly or episodic testing can miss drift, and that real-time instrumentation can help close the evaluation gap and strengthen fair lending oversight for lenders.
HousingWire also notes that Fannie Mae’s new AI and machine learning governance requirements joined Freddie Mac’s in the wild on August 6, with the key challenge being proof of “living” governance to examiners rather than simply meeting a deadline.