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Credit Score

Putting the Brakes on Mortgage Trigger Leads

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The highly anticipated Homeowners Privacy Protection Act will officially becomes effective on March 5, 2026. The primary objective of this legislation is to address and reduce the volume of unsolicited calls, emails, and text messages that consumers often receive following a credit inquiry related to a mortgage application. Up to this point, the three major ... Read more

Scorecard Hopping

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Each credit score model consists of multiple Scorecards that assess distinct aspects of an individual's credit profile. The points assigned by these Scorecards collectively determine the overall credit score. Typically, each model includes between 8 to 12 Scorecards, which categorize consumers into different segments. Based on a consumer’s actions, changes to the credit report may ... Read more

Are Credit Scores Going Away?

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Fannie Mae recently announced that a minimum credit score of 620 will no longer be a requirement for loan approval. This announcement has generated many questions within the industry. The straightforward answer is that credit scores are still a key factor and continue to hold the same level of significance as they did prior to ... Read more

UltraFICO

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Fair Isaac Company (FICO) along with Experian and data aggregator Finicity announced last week that starting in January 2019 they will begin pilot testing a new credit score called “UltraFICO.” In addition to the information the scoring models already take into consideration, this new score will also factor in the money a consumer has in … Read more

One Simple Mistake That Can Drop Your Credit Score

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There are many obvious actions that can cause a credit score to drop such as making late payments, maxing out a credit card, etc. But there is one seemingly innocent action that you’ve probably never thought of that could drop a credit score by 20 or 30 points. It may seem like a harmless thing … Read more

Late Payments and Revolving Balances

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Late payments and revolving balances are the two things that can do the most damage to a credit score. Having a late payment show up on your credit report probably makes sense but can revolving balances really have as much of a negative impact as a late payment? Absolutely. Let’s look at late payments first. … Read more