Many consumers find credit scores to be complicated and difficult to understand. Due to the numerous variations of different scoring models, it can be particularly challenging. When reviewing your credit scores, it is important to recognize whether you are viewing a FICO score or a VantageScore. Additionally, if you are looking at a FICO score, … Read more
Statistics indicate that roughly one in ten consumers is considered “credit invisible,” meaning they lack any credit history recognized by major credit bureaus like Equifax, TransUnion, and Experian. While it was once believed that having no debt was advantageous, this perspective has changed. Credit Invisible vs. Credit Unscoreable It’s important to differentiate between being credit … Read more
A lot of questions have been circulating through the industry around the proposed changes to Credit Score Models that were announced by the Federal Housing Finance Agency (FHFA) in October 2022. In March, Fannie Mae created a “Partner Playbook” that covers a lot of detail regarding the upcoming changes. The Playbook was just revised in … Read more