Items Tagged with 'CREDIT SCORES'


  • FHFA flip-flops, won't blacklist VantageScore as FICO alternative for Fannie and Freddie

    FHFA removes pending prohibition on GSEs using credit bureau-owned model
    In a rather surprising development, the Federal Housing Finance Agency announced Tuesday that it will allow Fannie Mae and Freddie Mac to consider using VantageScore as an alternative to their current FICO credit scoring model, a dramatic reversal from a proposed rule issued late last year.
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  • CFPB study shows alternative credit models lead to more loans, cheaper loans

    Test shows one alternative credit model leads to 27% more loan approvals
    For the better part of this decade, there’s been a serious push to get the GSEs to use newer credit scoring models that consider factors such as a person’s bank account history or utility payments when determining their creditworthiness. That movement all but ended last year, when the FHFA said that it will not be authorizing the use of any new credit scoring model for several years, but a newly released study from the CFPB shows that using alternative credit models will not only lead to more borrowers getting loans, the loans they get will be cheaper too.
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  • Mortgage borrowers’ FICO scores rise to a 3-year high

    Strong labor market makes borrowers more creditworthy
    The average credit score of borrowers who got mortgages in June rose to 731, the highest in almost three years, as a strong labor market helped Americans to pay their bills on time. The rate was the highest since September 2016, according to Ellie Mae.
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  • Housing News Podcasts: A conversation with Wings Financial

    Listen to this week’s latest episode
    HousingWire Editor-in-Chief Jacob Gaffney interviews Norm Creveling, the chief lending officer for Wings Financial Credit Union. In this episode, Creveling talks about the emergence of digital mortgages, the current housing market, and trends in consumer credit scores. Don’t miss it!
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  • Equifax, FICO to partner to offer banks access to more consumer data

    Companies announce plans to package services to enhance consumer credit reporting
    Equifax and FICO credit score creator Fair Isaac are partnering to offer banks access to more consumer data. The companies started pitching each other's services earlier this month and announced their partnership Wednesday, according to The Wall Street Journal. Now, they will promote one another's offerings and sometimes approach clients together.
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