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Tag Archives: FICO

Scoring the Unscorable

Editor's note: This story was originally featured in the February issue of DS News, out now. Following the credit crisis of 2008, the economic recovery has stabilized consumer credit markets and led to a rebound of credit availability for consumers. Despite a ...

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Credit Where Credit is Due

The Federal Housing Finance Agency recently released a Request for Input seeking feedback about the possibility of changing the credit scores the GSEs requires lenders to use to evaluate borrowers. According to the FHFA’s press release, “The Enterprises currently use ...

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FHFA Credit Changes Could Expand Homeownership

With the Enterprises considering major changes when it comes to GSE credit score standards, a FICO representative says they welcome the competition—so long as it’s fair.

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Credit Score Facelift

As the years go by, technology progresses. New computers and cellphones, more efficient ways of handling paperwork—but what about credit reporting?

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Gen X Anxious and Fearful for Financial Future

Generation X, aged 28-52, have a worse financial outlook than any other group. Having lost nearly half their wealth after the housing market collapse, over a third of Gen-Xers believe we are headed for an inevitable financial crisis in the near future. “For this reason, many are paying down their mortgages to reduce payments and guard against possible foreclosure in a downturn,” said one industry expert.

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Credit Score Competition Act Reintroduced

The Credit Score Competition Act, which seeks to force giants Fannie Mae and Freddie Mac to use alternative scoring when evaluating home mortgage purchases, was reintroduced by U.S. Reps. Royce, Sinema, and Sewell.

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New Formula Could Revamp Credit Scores Nationwide

The company responsible for one of the most widely used measures of credit health is making changes to its current model that could boost credit scores nationwide.

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Ellie Mae: Refinances Decline Slightly in May

Ellie Mae released its Origination Insight Report for May, analyzing data from over 3.5 million loan applications that ran through Ellie Mae’s Encompass mortgage management solution. The company found that refinances declined slightly for the month to 33 percent of all loans, down from 37 percent in the previous month.

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