On July 8th, FHFA Director Bill Pulte announced that Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSEs), are to commence using the Vantage 4.0 scoring model. He further stated that this change would be implemented “effective immediately.” While encouraging the GSEs to adopt the Vantage 4.0 scores may be beneficial, the abrupt timing of … Read more
Experian Boost™ and UltraFICO™ are two products offered by Experian® to help boost a borrower’s credit score. Please be aware that these products are only available with Experian so utilizing them will have no impact on a consumer’s TransUnion® or Equifax® scores. Experian Boost allows a consumer to add payment history from accounts that do … Read more
The Federal Housing Finance Agency (FHFA), the agency that oversees mortgage investors Fannie Mae and Freddie Mac, have ordered the companies to make plans to utilize alternate and/or updated scoring models in 2016 and to move forward in implementing them. This change would have a major impact on credit reports once they are implemented. Right … Read more