Credit Scores and Reporting
Mortgage giants Fannie Mae and Freddie Mac have issued new rules, which will take effect Nov. 1, that will allow short sales for underwater borrowers who have never missed a mortgage payment.
Recent media reports have suggested that the FHFA, Fannie Mae, and Freddie Mac will start to take severe legal action against strategic defaulters. But are mortgage cops really going to chase down these individuals with the goal of locking them up?
What does it take to get a credit score of 785 or higher? FICO releases common habits of high scorers and how they qualify for some of the best mortgage rates.
Banks are requiring home buyers to come with higher credit scores and down payments to get approved for a loan, according to new national data.
When reviewing their credit reports, one in five consumers are likely to receive a different credit score from what a creditor will use to price a loan. The discrepancy has a federal agency concerned.
Purchasing a home is a huge endeavor, and buyers need to be more educated than ever—before they begin the process. This field guide provides links to practical resources on most every aspect of home buying, from establishing credit to negotiating the final contract.
NAR sent a letter to Rep. Karen Bass (D-CA) supporting the "Homeownership Preservation Education Act of 2012".
REALTORS® believe in a responsible, sustainable model for home ownership, and current credit policy restrictions are not conducive to that model. Today’s tight credit restrictions are preventing some qualified buyers from becoming home owners, and making it tougher for some home owners to sell their homes.
Find information on credit policy, as well as background about FICO scores and the impact of various adverse credit events on the score.
Home buyers face unprecedented hurdles in qualifying for a mortgage in today’s market, but getting a loan is possible for those who know how to overcome the obstacles, according to a presentation on Cracking the Credit Code at the 2011 Realtors® Conference & Expo.