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In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.
October 22 -
The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.
July 23 -
It’s not just weaker underwriting and higher household debt levels that are driving past-due rates to their highest levels in seven years.
May 23 -
The annual progress report on the Fannie Mae and Freddie Mac conservatorships reiterated that a new credit score model will likely not be operational until after the implementation of a new Single Security Initiative.
March 29 -
A late addition to regulatory relief legislation would direct the Federal Housing Finance Agency to review credit-scoring alternatives, but some say the provision is redundant.
March 13 -
The Federal Housing Finance Agency said Friday it will give commenters more time to weigh in on a potential update to the credit scoring requirements for Fannie Mae and Freddie Mac.
February 2 -
The weighted average FICO credit scores of securitized reperforming loans are deteriorating a little, according to a DBRS study of the bonds.
January 16 -
Housing regulators should not adopt an alternative credit scoring model until the banking industry is on board.
January 16Capital Performance Group -
The two government-sponsored enterprises have relied on the “classic” FICO credit scoring model for the past 12 years. But the Federal Housing Finance Agency is weighing whether the GSEs should upgrade to more recent scoring alternatives.
December 20 -
The Consumer Financial Protection Bureau said 42% of car loans issued in the last year had a repayment term of six years or more, a huge leap over the 26% with such terms in 2009.
November 1