Articles Tagged with ''Credit score''

Are FICO scores becoming a thing of the past?

One lender says yes
A solution for the current credit score system is a trending topic in the industry. What if the solution is to not use the FICO method at all? While it’s likely this isn’t for everyone, it works for this mortgage industry disrupter.
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New House bill would end 'FICO monopoly' at Fannie Mae, Freddie Mac

Bipartisan bill pushes Fannie, Freddie to look at alternative credit scores
A bill introduced Thursday in the House of Representatives would allow Fannie Mae and Freddie Mac to consider alternative credit-scoring models beyond the FICO credit score the government-sponsored enterprises currently use when determining what loans to purchase.
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How well do you understand your credit score? Take this quiz

This should help clear any gray areas
The world of credit scores is often misunderstood, which is not a good thing since scores play a large role in whether or not you will qualify for a mortgage. Take this quiz to find out how well you know, or don’t know, the credit score system. A word of caution: Don’t get your hopes up for a 100%.
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This is why millennials need a new credit scoring system

Turns out they WANT credit, but just can't GET credit
Are Millennials interested in obtaining credit after witnessing their families struggle as a result of the recent recession? ID Analytics conducted a study on their credit scores to figure out where they stand. The answer may surprise you.
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