New FICO Model Could Raise Scores, But it Might Not Help Homebuyers Anytime Soon

25 Aug

The Washington Post – Kenneth R. Harney

Fair Isaac debuted a new credit score version that no longer penalizes consumers for certain debt issues, but most home buyers will not see any direct benefit any time soon. Pete Mills, senior vice president with the Mortgage Bankers Association, said industry adoption of the new scores will hinge on whether Fannie Mae and Freddie Mac include them in new underwriting guidelines.

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