Millions to receive credit scores under new models, but expert warns of approval trap

A credit solutions expert shares the top three "timeless habits," tips and advice as America's mortgage market adjusts to new credit scoring models that widen the door to homeownership.
National Mortgage Professional

MISMO Publishes New Credit Scoring Guide

MISMO has announced that a new Credit Score Implementation Guide and Credit Score Model Name Document have reached “Final” ...
AOL

New credit scoring model for mortgages could help more people buy homes

The companies that buy up the majority of the country’s home loans will now accept a second credit scoring model for mortgages — a change that could help underrepresented borrowers qualify for ...
nationalmortgageprofessional.com

Plaid Unveils New Credit Risk Score Model

LendScore uses real-time cash flow data and unique account connection insights from the Plaid Network to provide lenders with an updated view of borrower risk To give lenders a more complete financial ...

What Credit Score Do You Need for a Personal Loan?

Lenders often have minimum credit score requirements for personal loans, but there isn’t one minimum score every lender uses.
WITN

Local credit experts explain new, approved credit score model

GREENVILLE, N.C. (WITN) - Government-backed mortgage giants Fannie Mae and Freddie Mac are now allowed to accept a different credit score that considers rent and utility payments. While FICO credit ...

Check Your Credit Score for Free Whenever You Want With These 7 Services (But There’s a Catch)

Several online services provide one or more credit scores for free, but check whether you're receiving your VantageScore or ...
American Banker

FICO adds BNPL data to credit-scoring models

FICO has updated its latest credit score models to include buy now, pay later data, showing how important this pandemic-era tool has become in the overall consumer debt market. The credit score ...
JD Supra

FHFA’s Credit Score Models and Reports Initiative

The FHFA announcement directs Fannie Mae and Freddie Mac to permit lenders to choose between two approved credit score models – Classic FICO and VantageScore 4.0 – for loans sold to Fannie Mae and ...
CNBC

What is an UltraFICO Score and how does it work?

The most popular credit scoring model is the FICO® Score and if your FICO Score isn't where you want it to be, you may be able to boost it using the UltraFICO™ Score. With UltraFICO™, you can include ...
Insurancenewsnet.com

NCOIL Revised Credit-Scoring Model to Provide Relief for Catastrophic Events

The National Conference of Insurance Legislators wants insurance companies to cut a break to policyholders who find themselves jobless, sick, divorced or deployed overseas in the military. The ...
The Washington Post

Get Your Credit Scores -- and Then Sit Down to Talk

You need to get your credit reports from the three credit bureaus -- Equifax, TransUnion and Experian. Why all three? You need all three reports because each may contain different information. Each ...