04-30-2007 06:18 PM
04-30-2007 07:37 PM - edited 04-30-2007 07:38 PM
04-30-2007 07:49 PM
04-30-2007 10:21 PM
Barry wrote:Hi All,Just a little food for thought and discussion....Today's Minneapolis Star Tribune reports that a mortgage lender and credit-rating agency have taken to blaming FICO scores for the rising number of subprime mortgage defaults in their article, Opinions differ on effectiveness of FICO score.Any opinions from the FICO scoring experts here as to the validity of this claim?-Barry
04-30-2007 10:46 PM
05-01-2007 02:02 AM
05-01-2007 02:15 AM
05-01-2007 02:35 AM
LadyFICO wrote:Then they have no doc no income verification based on score. So I could have a 760 or higher and make 28k trying to get into a 300k home. How can I pay for this? If that is your only income the answer is you can't!
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.