Category Archives: Credit Reporting

FHFA Considers Changing Credit Scoring Model | Will It Make A Difference?

In what on the surface seems to be a good faith effort to expand homeownership opportunities, the Federal Housing Finance Agency recently evaluated the possibility of switching credit score requirements from classic FICO to either FICO 9 or VantageScore 3.0. Critics of the proposed adjustment argue that changing requirements will do little to expand the Read More

Increased IRS Data Security Slows Mortgage Application Process

After the Equifax breach this past fall in which hackers stole the personal information of 143 million U.S. consumers, the credit reporting industry is going to greater length to protect consumer data from cybersecurity threats. In an effort to safeguard sensitive data, the Internal Revenue Service recently beefed up security of their Income Verification Express Read More

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