Credit Resource Archives -

VantageScore Can Help Expand Homeownership

WHAT CREDIT SCORE COMPETITION MEANS FOR YOUR MORTGAGE LENDING EXPERIENCE Credit score competition is coming to the mortgage industry but what does this mean for you, your family, and your friends? It means we now have the power and potential to expand sustainable homeownership opportunities to millions of Americans currently disadvantaged by traditional credit scoring models. How will it affect me? The model competition will result in more accurate, reliable, inclusive, and updated mortgage credit […]

A History of Credit

Credit bureau-based risk scoring systems, their formal title, have been commercially available since the late 1980s. They were initially used by credit card issuers but were quickly adopted by other types of lenders. The last holdout was the mortgage lending environment, but that too changed. In the mid 1990s, Fannie Mae and Freddie Mac informed mortgage brokers and lenders that they would have to begin using credit scores as part of the mortgage decision-making process. […]

Cautious Millennials are getting worse deals on loans and credit cards

No doubt that millennials are financially cautious which is a fact that could be making it much harder for this generation to get low-cost loans or credit cards. Unlike other older generations, many millennials are reluctant to take on new debt even as their finances improve, according to research from VantageScore that was provided exclusively to USA TODAY. The problem is lenders still consider these conservative borrowers with fewer credit accounts as riskier. As a […]

The Unscorable Problem Gets Worse

Has the plight of the conventionally unscorable worsened? Unfortunately, based on a recent VantageScore analysis, it has been exacerbated. The overall population in America has increased dramatically, even though the last decade has seen the slowest growth rate of all times. As the overall population has increased, so has the number of consumers who are not scoreable when conventional credit scoring models are used. Indeed, according to the Consumer Financial Protection Bureau, about 1 in […]

Secrets to Paying Your Debts off and Living Stress-Free

You worry too much about money and that’s the problem! Financial stress is one of the things that will aggravate all kinds of health problems- there’s adequate research to support this claim- and I am talking about health issues like constant migraines, insomnia, heart disease, and to some extent weight gain, and sometimes weight loss. Money problems will rip your relationships apart and it will mess up with your peace of mind. But all that […]