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credit scores: Keeping Score: The New Rules for Credit Scores and Mortgage Risks - 03/12/08 11:25 AM
Fannie Mae and Freddie Mac, the nation's two largest buyers of home mortgages, recently enacted changes in how they use credit scores to assess risk and price loans.  If you have excellent credit so you think this may not affect you, think again!  The latest announcement will affect borrowers with scores as high as 719, generally considered to be A credit.
Up until recently, borrowers who got Approval recommendations from either of the two Government Sponsored Entities (GSE's) would enjoy access to the same interest rates regardless of credit.  In other words, it didn't matter if your credit score was a 610 … (1 comments)

 

Don Carter

Haverhill, MA

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All Star Mortgage, LLC

Office Phone: (978) 853-7066

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My first effort at blogging is intended to provide readers with timely, relevant, and occasionally entertaining information about a variety of topics, including mortgages, real estate, and whatever else I happen to be interested in at the moment. I hope you enjoy it!


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