Dec 5, 2019 1:00:00 PM
Mar 7, 2016 1:00:00 PM
Being able to predict whether or not a consumer will pay his or her mortgage loan on time and in full is the concept behind credit scoring. The Fannie Mae announcement about trended data being added to mortgage credit reports for the underwriting process is causing a shift in the entire industry.
Sep 8, 2015 8:00:00 AM
If you’ve recently checked your FICO credit scores (Equifax, Experian and Transunion), you may have noticed that your credit score varies between the three. After thoroughly reviewing your credit report, you may be asking yourself, “Why are my 3 FICO credit scores different?”
Jul 30, 2015 11:27:42 AM
Millennials are one of the largest demographic groups in the U.S. It is estimated that by 2020, one in three adults will be millennials. Yet, unlike past generations, this group appears to be less active in traditional credit and financial markets. With 33% being under–banked and 63% not have having credit cards.
Millenials do in fact apply for credit, but are denied at a much higher rate than their generational counterparts. Why?
Mar 20, 2015 1:04:00 PM
FICO, the nation’s most popular credit-scoring system, released news about its latest credit scoring model, FICO®9.0. While the media was all a-buzz with the potential “improvements” associated with the expected changes to the new scoring model, it is important to note that this will take time for mortgage consumers to experience its impact.
Aug 19, 2014 8:13:00 AM
Last week, FICO, the nation’s most popular credit-scoring system, released the news about its latest credit scoring model, FICO®9.0. While the media was all a-buzz with the potential “improvements” associated with the expected changes to the new scoring model, it is important to note that this will take time for mortgage consumers to experience its impact.
Jun 5, 2014 7:25:00 AM
Given all the myths surrounding credit scores, from the (false) belief that married couples share a single score to the notion that each person only has one, it’s no wonder there’s also some confusion about just what can help or hurt a score. In fact, some people unintentionally lower their scores, which can lead to higher loan payments or even loan denials, through behaviors they could change.
Here are five common mistakes that can accidentally hurt your credit score:
Mar 31, 2014 10:55:00 AM
Looking for a credit card? If so, you’ll need to shop around. Do some research to compare costs, features and drawbacks before settling on a single card.
Feb 26, 2014 10:25:00 AM
You’ve gone to your lender and been approved for a home mortgage. You’ve found the home of your dreams. But just when you are about to close, the lender says you are no longer approved. What happened?
Topics: Data Facts blog, wordpress blog, Data Facts, Mortgage, lending solutions, Credit Score, Mortgage compliance, finances, credit cards, credit history, Compliance, Credit Bureau, mortgage news, FICO
Feb 6, 2014 10:55:00 AM
Establishing a good credit history has never been as important as it is today. It's not just that you'll need good credit to get decent rates when you're ready to buy a home or a car. Your credit history can determine whether you get a good job, a decent apartment or reasonable rates on insurance. One seemingly minor misstep -- a late payment, maxing out your credit cards, applying for too much credit at once -- can haunt you for years. If you're just starting out, you have a once-in-a-lifetime opportunity to build a credit history the right way. Here's what to do, and what to avoid.