Tag: VantageScore model

EXPANDING HOMEOWNERSHIP WITH VANTAGESCORE

For many of us, buying a home is the largest purchase we will ever make and we couldn’t do it without a mortgage. The type of mortgages and rates available to home buyers are directly affected by credit scores. The credit scoring model used to determine those scores is of great importance.  What Credit Score Competition Means for Mortgage Lending For many years, Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs) responsible for purchasing […]

Millions no Longer Credit Invisible Scoring

In 2019,  the Consumer Financial Protection Bureau (CFPB) released a report which summarized the discussion and conclusions from a symposium on the topic of credit accessibility. The event focused on a broad spectrum of ideas and challenges associated with responsibly expanding access credit to those who are underserved.  Obviously, credit scores are one of those factors. First off, the numbers:  The CFPB noted that based on its prior research, “roughly 20 percent of the adult […]