Inman Weekly: The housing market is about to open up to sellers in a big way. According to experts, changes in the tax plan under the Trump Administration mean it is getting
Credit Scoring System To Be Revised
FICO introduced its new FICO Score 9 as a way to assess consumer collection information and differentiate between medical and non-medical collection agency accounts.
The revisions, to take effect this fall, will alter the formulas used to generate the credit grades used in more than 90 percent of the decisions that lenders make about how much consumers can borrow and at what interest rates.
As a result, median FICO scores for consumers whose improved scores could make it easier to qualify for mortgages and car loans and get lower interest rates.