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Home : Blogs : Illinois Mortgage Lender Greg Zaccagni : Greg 's Blog

New FICO Scores for Mortgage Lenders

Fair Isaac aka FICO unveiled a new credit score today designed specifically for mortgage lenders.

The "BEACON® Mortgage Score" aims to provide better decisioning results addressing the lending risk for both homeowners and buyers.

The new model includes 15 additional score codes to help mortgage lenders make sense of the scoring so better choices are made when it comes to providing new financing and loan modifications.

Testing showed the new score identified 25 percent more mortgages and Helocs that later became delinquent when compared with the current model. That could save the industry $1 billion in foreclosure costs.

www.MortgageAdvisor.info & www.GregZaccagni.com

Posted by Illinois Mortgage Lender Greg Zaccagni on 03/11/2009 09:43 PM

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Illinois Mortgage Lender Greg Zaccagni

Wheaton, IL

More about me…

The Federal Savings Bank

Address: Dupage, Kane, Cook County etc.., Wheaton, IL, 60189

Cell Phone: (630) 853-8555

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