Real estate blog entries tagged with new credit scoring system for home mortgages vantagescores by Jeffrey Owen (IonHomeInspection.com

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Home : Blogs : Jeffrey Owen : Ion Home Inspection's Blog IonHomeInspection.com : Tag "new credit scoring system for home mortgages vantagescores"

new credit scoring system for home mortgages vantagescores: New Credit Scoring System for Home Mortgages-VantageScores - 07/01/08 09:48 PM

Interesting twist on credit scoring for buying a home.

Equifax Inc. (EFX.N: Quote, Profile, Research), Experian and TransUnion LLC, a unit of Britain’s GUS Plc (GUS.L: Quote, Profile, Research), in a statement said they adopted the “VantageScore” in response to “market demand for a more consistent and objective approach to credit scoring.” In the past, the agencies used their own formulas to gauge credit-worthiness. This created the possibility of widely varying scores, which could complicate consumers’ ability to obtain credit cards, auto loans, mortgages or other financing. Many lenders now use “FICO” scores, named for Fair Isaac Corp. (FIC.N: … (8 comments)

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Jeffrey Owen

Katy, TX

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