MORTGAGE INTEREST RATE LOCK ADVISORY
August 11, 2014, 8:10 AM PST
LOCK ADVISORY
7 Day Close Mortgage Interest Rate lock or Float Advice: FLOAT
- The price for 3.50% Mortgage Loans based on MBS is currently up 0.26 point.
30 Day Close Mortgage Interest Rate Lock or Float Advice: LOCK
MORTGAGE MARKET INDICATORS
- FHLMC Average: 30-Yr Fixed Mortgage Rate, up 0.02 to 4.14% on August 7
- MBS (3.5%) - Currently 102.23, High: 102.49, Low: 102.17
- DJI Stocks currently $16,603.90, Up $49.97, Change 0.301%
- Asian & European Stock Market Indexes changed 1.142%
- Crude Oil (WTI) Currently $98.32 - Change 0.69%
- Gold 1 Ounce - $1,306.38
MORTGAGE AND REAL ESTATE NEWS
Author: Tory Barringer
The company responsible for one of the most widely used measures of credit health is making changes to its current model that could boost credit scores nationwide.
In an announcement on Thursday, analytics and decision management firm FICO said its new credit model, FICO Score 9, "introduces a more nuanced way to assess consumer collection information," resulting in greater precision for lenders measuring a borrower's credit stability. The model will be available to lenders through the country's various reporting agencies starting in the fall.
"FICO Score 9 uses a more refined treatment of consumers with a limited credit history and those with accounts at collection agencies, so that lenders can grow their credit and loan portfolios more confidently," said Jim Wehmann, EVP for Scores at FICO.>>Read More DS News
New Formula Could Revamp Credit Scores Nationwide
Author: Tory Barringer The company responsible for one of the most widely used measures of credit health is making changes to its current model that could boost credit scores nationwide.
In an announcement on Thursday, analytics and decision management firm FICO said its new credit model, FICO Score 9, "introduces a more nuanced way to assess consumer collection information," resulting in greater precision for lenders measuring a borrower's credit stability. The model will be available to lenders through the country's various reporting agencies starting in the fall.
"FICO Score 9 uses a more refined treatment of consumers with a limited credit history and those with accounts at collection agencies, so that lenders can grow their credit and loan portfolios more confidently," said Jim Wehmann, EVP for Scores at FICO.>>Read More DS News
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