Starting next week, Fannie Mae is eliminating its minimum 620 credit score requirement for borrowers seeking loans that will ...
Private mortgage insurance companies still require a minimum 600 or 620 middle credit score for borrowers putting less than 20% down.
Socializing risk to subsidize demand isn't a solution to the housing crisis, but it is a good start to another financial ...
New guidelines should provide homeownership opportunities for certain consumer segments with thin credit files and open up product options, lenders said.
Lenders who sell mortgages to Fannie Mae and Freddie Mac used to only be able to use FICO for loan qualification. Now there's ...
Exactly 30 years ago, Fannie Mae and Freddie Mac adopted credit reports and their scores from FICO as a basis for mortgage credit decisions (approval or denial) and risk-based loan pricing. That FICO ...
A regulator’s decision to allow a big change to the way mortgages are underwritten is meeting a mixed reception from housing and finance professionals. “Effective today, to increase competition to the ...
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