Credit Scores and Reporting
Barrett Burns, President & CEO of VantageScore Solutions LLC and NAR's Charlie Dawson talk about changes and advances in the credit-scoring industry.
REALTORS® welcome today’s announcement from Fair Isaac Corp., or FICO, that it will no longer penalize borrowers for certain debt-collection activities when calculating credit scores.
The Federal Housing Agency is taking additional steps to expand access to mortgage credit for underserved borrowers.
The bank has announced that it has dropped its minimum credit score for FHA loans from 640 to 600.
Those who have undergone a previous short sale need to pay careful attention to their credit report to make sure it was reported accurately by the lender, especially if they want to apply for a new mortgage anytime soon.
Credit scoring has become a serious issue in the lending community and it can affect your ability to obtain or refinance your next mortgage. This updated field guide includes articles and books relating to credit scoring.
Prospective home buyers who don't have a long credit report may still be able to show lenders they're worth the risk by showing off their nontraditional credit.
Housing analysts blame the drop on tight credit conditions, constrained inventories of for-sale homes, and the rising number of single-family rental homes.
As banks seek options to help delinquent home owners, some lenders are eyeing deeds in lieu of foreclosure as the answer.