Field Guide to Credit Scoring (NAR Information Central)
(Updated August 2007)
Credit scoring has become a serious issue in the lending community and it can affect your ability to obtain or refinance your next mortgage. Credit scoring systems can gauge a mortgage applicant's credit rating and assign an interest rate and risk value based upon information provided in the loan application. Credit scoring offers several advantages. It provides quick recommendations while taking human judgment out of the equation. Credit scoring also is extremely efficient and, usually, inexpensive. This page includes articles and books relating to credit scoring. (D. McCormick, Technical Coordinator)
Contents:
Information from NAR | Credit Scoring Basics | Useful Websites | Credit Scoring Organizations | Credit Information Services | Books, eBooks & Other Resources
Information from NAR
6 Ways to Quickly Boost Credit Scores, (REALTOR® Magazine Online, July 20, 2007). 
For Buyers: Eight ways to improve your credit score, (REALTOR® Magazine Toolkit).
Mortgage Basics: Understanding Credit Ratings, (REALTOR® Magazine Toolkit).
Credit Score Checkup Can Make a Difference, (REALTOR® Magazine Online, July 31, 2006).
Buyer Niches: Tap into Emerging Markets, (REALTOR® Magazine Online, Apr. 2006).
Credit scoring talking points, (NATIONAL ASSOCIATION OF REALTORS® - Public Affairs, Apr. 2004).
Knowing the credit score, (REALTOR® Magazine, May 2002). 
Credit Scoring Basics
Federal Report Reiterates Credit Scoring Fairness, (Insurance Networking News, Aug. 16, 2007).
Seven Steps to a Credit Score Makeover, (Realty Times, July 19, 2007).
A new way to report risk, (Credit Management, July 2007). 
Credit unions move into business banking, (San Francisco Business Times, Apr. 20, 2007).
Credit Data on the Fly, (US Banker, Apr. 2007).
Credit Scoring - Not Just for Rocket Scientists, (Business Credit, Mar. 2007).
Blended Scores are Better Scores, (Business Credit, Jan. 2007).
States Seek Disclosure on Credit Scoring, (National Underwriter, Jan. 1, 2007).
Banks may rely more on small-business credit scoring, (San Francisco Business Times, Dec. 1, 2006).
Credit Scores are Ever-Changing, (Realty Times, July 26, 2006).
Credit Scoring System Gives, Takes Away Financial Prowess, (Realty Times, May 10, 2006).
Big Three Announce New Credit Score, (Realty Times, Mar. 16, 2006).
How your credit score is calculated, (About.com, 2005).
Protecting your credit score, (MoneyCentral.MSN.com, 2005).
Learning How Your Credit Scores, (Realty Times, Aug. 5, 2005).
Credit Freezing 'Gums up the Works', (Realty Times, June 29, 2005).
Despite criticism, is credit scoring here to stay?, (National Underwriter, June 13, 2005).
How credit scores work, how a score is calculated, (Bankrate.com, Apr. 28, 2005).
Credit scoring and the next step, (Business Credit, Mar. 2005).
Credit Scores - what you should know about your own, (PBS.org, Nov. 23, 2004).
Don't Score Yourself, (Realty Times, Sept. 10, 2004).
Useful Websites
Fannie Mae, (Fannie Mae, 2007).
Fair Isaac Corporation, (Fair, Isaac & Company, Inc., 2007).
Credit Scoring Organizations
Federal Trade Commission
Consumer Response Center
CRC-240
Washington, D.C. 20580
Phone: 202-382-4357
email: uce@ftc.gov
http://www.ftc.gov
Click here for full-text of Fair Credit Reporting Act
Credit Information Services
| Equifax P.O. Box 740241 Atlanta, GA 30374 Phone: 800-685-1111 email: customer.care@equifax.com |
Trans Union P.O. Box 2000 Chester, PA 19022 Phone: 800-322-8228 |
| Experian 475 Anton Blvd. Costa Mesa, CA 92626 Phone: 888-397-3742 |
Cis Data Systems 2030 Franklin St., 5th Floor Oakland, CA 94612 Phone: 510-524-9872 email: info@credit-reports.com |
| QSpace PO Box 19729 Irvine, CA 92623 Phone: 888-888-8553 email: contact@qspace.com |
 |
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
The Credit Diet: How to Shed Unwanted Debt and Achieve Fiscal Fitness (Adobe eReader)
Credit Repair Kit for Dummies® (Adobe eReader)
Credit Smart (Adobe eReader)
Repair Your Credit and Knock Out Your Debt (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Credit road map: a practical guide for navigating your way to good credit, (Success Road Map Press, 2006). HG 3751 R51
Credit risk modeling: theory and application, (Princeton University Press, 2004). HG 3751 L36
Credit scores & credit reports: how the system really works, what you can do, (Privacy Times, Inc., 2004). HG 3751 H46
Home Buying Without the BS!, (Hall Street Press, 2002). HD 1341 T39
Eliminating credit barriers to increase homeownership, (Arlington, VA: Research Institute for Housing America, 2001). HG 3751.5 R72
Credit risk and mortgage lending, (Arlington, VA: Research Institute for Housing America, 2000). HG 2051 P38
An introduction to credit scoring, (San Rafael, CA: Fair Isaac & Company, 1992). HG 3751 L58
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
