Experian, FICO and Fincity are touting a new credit scoring model they say can increase access to credit for millions of U.S. citizens. UltraFICO, as the new model is known, takes into account more than just the information reported to the three main credit scoring agencies, Experian, Equifax and TransUnion. It also looks at consumer’s
Some consumers could see their credit scores jump higher
April 18, 2018 by
Consumers with low credit scores could soon have something to cheer about with the news that the three major credit reporting agencies in the U.S. are to implement policy changes that could lift their scores.
Lenders Warn of New Housing Bubble on Horizon
July 10, 2014 by
Mortgage bankers are fearful that another real estate bubble is on the horizon, according to a quarterly survey of 203 bank risk managers from the United States and Canada conducted by FICO
Are Credit Score Requirements Too Strict?
May 14, 2014 by
Executives at FICO, the creator of a credit score widely used in the mortgage industry, say that the high credit score “cutoffs” that mortgage lenders imposed following the housing crisis are stricter than necessary.
Just Who Does Qualify For a Loan These Days?
May 23, 2012 by
The answer? Not many, that’s who… While mortgage rates are being advertised as the lowest in a lifetime, the simple fact is that thousands of prospective buyers will never qualify for them.
First Time Buyers Wary of Making a Move
December 5, 2011 by
The average price of a home in the US has fallen to pre-2002 levels and interest rates are as low as they’ve been in living memory. So why is it that the number of first time buyers seems to be dropping, given all the incentives they have to act right now? According to a report
