• Matt Joy

FHFA is seeking feedback on implementing a possible change to its credit scoring models; I hope ever


Photo by Erwan Hesry on Unsplash

As we enter 2018, could we see another credit scoring model implemented? Who knows… but what we do know is that FHFA is going to review possible alternatives to the Classic FICO. VantageScore Solutions and FICO 9 - are 2 of the potential models that have been analyzed and reviewed as contenders against the long standing Classic FICO.

Regardless of which credit scoring model is chosen everyone wants to know… will changing the model make it easier on the homeowner seeking lending? I’m not sure and neither is anyone else, but some experts believe the scoring model through VantageScore is more predictive and consumer friendly. There was an excellent article published on this topic back in October and it explains in more detail what specifically a company like VantageScore could provide to consumers and investors alike. Check it out here. I personally like the idea of providing investors credit score data in advance of purchasing large pools of loans. This could give them further insight into their investment. What are your thoughts?

We’re 4 days out from the Christmas Holiday and 10 days away from the New Year! I hope everyone is ready for the awkward “thankkkk yyouuu” after you receive a coupon book as a gift from your great aunt and the “New Year, New Me” memes… that have flooded social media timelines since 2010. As you can tell I’m a huge fan of this time of year. In all honestly though, my real hope is that everyone takes this time to reflect on what you’ve accomplished in 2017 and if it was nothing… that’s okay 2018 is 10 days away. You can start fresh soon!

The opinions expressed in this post are the sole view of the writer and do not reflect the opinion of Princeton Mortgage Corporation.

#FHFA #CreditScore #NewYears #Holidays #FICO

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