FREDDIE MAC PUTS ITS WEIGHT BEHIND THE USE OF CREDIT SCORING

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Freddie Mac CreditSmart Module 6: Understanding Credit Scoring | Glossary 14 Term Definition Creditor Creditor is the term used for the person or entity that is providing credit or a loan to a borrower at specific terms and conditions. The term creditor can generally be used interchangeably with the term lender.

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Fannie and Freddie stick with outdated credit scoring. They also noted that at least one major competitor to FICO, VantageScore Solutions, offers a model that claims to score 30 million-plus consumers with minimal data on file at the credit bureaus who currently are "unscoreable" or invisible to older FICO models.

Mortgage financing giants fannie Mae and Freddie Mac, which purchase most of the new loans for home purchases, is considering using VantageScore as an alternative to the long-established and dominant FICO credit scores. Fannie and Freddie’s loosening of their grip on the FICO scoring model could enable borrowers unable to qualify for a mortgage overcome some hurdles in their current credit reports.

use the oldest communications protocols or the newest web service methods. Yet, CGI Enterprise Gateway is more than a vendor management system. It also puts brains behind its technology to turn credit information into valuable insight. CGI Enterprise Gateway stores, summarizes and organizes

Fannie Mae, Freddie Mac consider updated credit score models. Competition in credit scoring, as in other markets, encourages innovation and gives lenders the power to choose the scoring model, or models, that are perform best on their particular portfolios and target audiences.

Schedule C income is the easiest self-employment income to analyze and calculate. Remember, when reviewing tax returns, analyze all incomes, expenses and losses to determine borrower true cash flow. Underwriters should use either the Fannie Mae Form 1084 or Freddie Mae Form 91 worksheets to calculate cash flow for self-employed borrowers.

 · Freddie Mac has done more than 284,000 HARP refis this year through August, compared with 185,000 for all of last year. Fannie has done 334,000 in the same period, compared with 215,000 last year.

At its most basic level, the plan would buy up bad loans. along with mortgage giants Fannie Mae and Freddie Mac, he didn’t use the dreaded n-word. Obama now faces many tough choices in dealing with.