Articles Tagged with ''Credit score''

Here’s why millennials aren’t buying homes

And here’s how to change that
During today’s Housing Policy Council at the Financial Services Roundtable, being held right now in Washington, D.C., several housing experts gathered during a panel to talk about why millennials aren’t buying homes and what can be done to bring them to the market.
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From HW Magazine

Is it time to 86 the FICO?

Using only one model leaves money on the table for lenders
First, I’m not suggesting totally yanking FICO or Vantage Scores or anything like that. What I am recommending is the adoption of other models that would equally, or even more effectively, determine who can repay a loan.
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Are your Facebook friends the future of your FICO score?

One financial expert thinks so
“You could easily have a scenario in 10 years where a customer’s chances of credit are determined not only on their spending, but also on their friends, family members and their social profile,” Gi Fernando said. “By giving up a bit more information to the banks, you might stand to benefit in a wider choice of products.”
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FHA-backed mortgages drop 19%

Lenders put limit on federal insurance
Major lenders and regulators are working hard to find common ground when it comes to home loans to lower-income Americans. As talks continue, the percent of federal Housing Administration loans given to borrowers with weaker credit scores is dropping.
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Moving from renting to homeownership could get easier

Study shows benefits of adding renting into FICO scores
In good news for borrowers struggling to get a mortgage due to their poor credit score, mortgage lenders might start considering rent payment history in credit scores. A new study shows that this could be the key difference for future homeowners.
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How hard is it to get a mortgage?

Depending on your circumstances, it’s not as hard as you may think
The Wall Street Journal identifies two distinct segments of potential borrowers — one can get credit fairly easily while the second group has a significantly more difficult time.
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