Tag Archives: FICO

Rollout of new mortgage credit scoring models pushed back

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Plan to require lenders working with Fannie and Freddie to use FICO Score 10 T and VantageScore 4.0 models by Q4 2025 has been dropped, with new implementation date “TBD.” Continue reading →

Mortgage lenders gearing up to use more inclusive credit scoring

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Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck. Continue reading →

Let TikTok’s favorite debt expert help skyrocket your credit score

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Trainer Bernice Ross talks to popular TikTok credit expert Alisa Glutz to find out how you and your clients can optimize the potential of a credit profile for lower interest rates and better scores. Continue reading →

VantageScore: New scoring model could qualify 4.9M extra borrowers

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Company puts heat on regulators to stick to 2025 timetable for requiring lenders to use VantageScore 4.0 to evaluate borrowers, saying delays could impact “creditworthy people of color.” Continue reading →

TransUnion knocks plan to let lenders use 2 credit reports

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The plan to move to a bi-merge process allowing lenders to use two, instead of three, credit reports was announced last October by Fannie and Freddie’s federal regulator. Continue reading →

Fannie, Freddie ordered to slash fees for many first-time homebuyers

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Regulators order mortgage giants to eliminate upfront fees on many purchase loans in order to help first-time homebuyers of limited means, the Federal Housing Finance Agency announced Monday. Continue reading →

6 tips to help credit-challenged clients improve scores

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If you have clients who are struggling to get their finances in line while preparing to buy a home, here is some advice you can give them to help get their credit scores in good shape and keep them healthy moving forward. Continue reading →

7 facts about FHA loans you should know

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Knowing more about how FHA works — and how to work with FHA — helps agents identify opportunities for their first-time buyer clients, who make up one in three buyers today. FHA is not for everyone, but for millions of young families, it is the piece th… Continue reading →

What the New FICO Credit Score Changes Mean for Retirement

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Fair Isaac, the giant credit score company, recently announced the biggest change since 2014 in how it determines its FICO credit scores. This new FICO 10 system — expected to go into effect by year’s end — could affect your retirement in big ways, pos… Continue reading →

FICO boasts new credit scoring model will reduce mortgage defaults

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The company boasts that the new model will have greater predictive powers while reducing risk for lenders. Continue reading →