Items Tagged with 'Credit score'

ARTICLES

  • FICO: Student debt creates a pull on credit scores

    Practices of consumers who see an increase in credit score
    In today’s competitive housing market, there are many factors that help determine whether a person is ready to buy – rather than rent – their next home. To better understand the profile of individuals who are taking the next step in their financial journey, FICO researched how previous financial milestones impact the readiness to open a mortgage among Millennials.
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  • New FICO model could boost credit scores for millions

    New model taps into consumer banking data
    Experian, FICO and Finicity announced a new credit scoring model that could expand credit access for millions of Americans. The new model, UltraFICO, would look at more than just information reported to the three credit-reporting firms. It would go deeper still and look at the consumer’s banking data, including their checking and savings accounts.
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  • Consumers, here's how you can save $45,000

    According to LendingTree, raising your credit score from fair to very good can save you thousands in cash
    According to a study by LendingTree, raising your credit score from "fair" to "very good" saves $45,283 on a common array of debts. That’s more than the 2016 median earnings in America ($31,334 before taxes).
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  • Experts surprised by Millennial credit scores

    Vary significantly from city to city
    Millennial credit scores vary significantly from one city to the next, and a deeper dive into the FICO scores shows surprising results. But while experts at Ellie Mae were surprised by the Millennial FICO scores, they soon learned the reason for the phenomenon.
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    FHFA on credit score delivery: forgotten lessons

    Multiple versions of a credit model may lead to added cost and complexity
    Recently, FHFA posted a Request for Input asking for opinions concerning options for changing the delivery of credit scores to the GSEs, underwriters and investors. FHFA is considering various options to change the current system. Any such choice, in the end, is the outcome of a detailed cost-benefit analysis, but while FHFA acknowledges this, they fall short of providing the necessary framework for reaching an informed conclusion.
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  • Here's where to find some good news for mortgage lenders

    Refis down, mortgage profits down, true, but desire to buy homes is still growing
    Looking for some good lending news during a downturn? LendingLife has your back. Yes, it is true that rates are rising, per loan profits are down, credit feels tight and refinances are dipping. But, the good news is that the perception of homeownership as a good investment is on the rise. And that's not the only good news for lenders right now.
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  • Keep credit scores independent and reliable for the mortgage market

    What would a credit-bureau controlled credit score look like?
    [Expert commentary] Tucked into the U.S. Senate’s recently passed financial regulatory reform bill is a provision that has nothing to do with regulatory relief for community banks, freeing up capital in financial institutions, or enhancing consumer protections. FICO explains what it thinks a credit-bureau generated credit score would mean for mortgage finance.
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  • MBA calls for competitive credit score requirements

    Submits letter to FHFA
    On the last day to submit comments about credit scoring to the Federal Housing Finance Agency, the Mortgage Bankers Association sent in a letter calling for more competitive credit score requirements. Here’s some of the requirements the MBA outlines in its letter to the FHFA.
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  • VantageScore hires former Radian, Wells Fargo exec Phillip Bracken to lead industry relations

    Bracken also tasked with dealing with regulators
    VantageScore Solutions, the developer of the VantageScore credit scoring model, is hiring former Radian Guaranty and Wells Fargo executive Phillip Bracken to lead the company’s government and mortgage industry relations. Bracken comes to VantageScore from Radian, where he was chief policy officer and head of government and industry relations.
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