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Fannie, Freddie to Consider Alternatives to FICO

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Fannie, Freddie to Consider Alternatives to FICO

"The move by the Federal Housing Finance Agency is seen as a win for VantageScore, a credit-score system by VantageScore Solutions LLC, which is owned by the three large credit-reporting firms: Equifax Inc., TransUnion, and Experian PLC."

 

(Wall Street Journal, might be pay-walled) Housing-finance regulator aims to shake-up credit scores for mortgages

 

(Federal Housing Finance Agency news) FHFA Publishes Final Rule on Credit Score Models

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

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Moderator

Re: Fannie, Freddie to Consider Alternatives to FICO

Really, this will mess up the mortgage market even more. Vantage doesnt have the track record of Fico. Going to be interesting to see this one.
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

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Valued Contributor

Re: Fannie, Freddie to Consider Alternatives to FICO

Heck there's already enough info gathering companies out there, now they want another one? What's wrong with just keeping Fico?

Sounds like some lobbying BS just to make Vantage matter again. 

Another big payday for someone I'm sure.

 






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