Tag: credit score

Alternative Data’s Role in Expanding Credit Access

To the average joe, the term Alternative Data may not make a lot of sense.  But to those who are financially and technologically savvy, Alternative Data may be the thing that disrupts the world of money lending as we know it today.  Last year, the House Financial Services led by Congresswoman Maxine Waters (D-CA), sent a letter to the Government Accountability Office requesting information about the benefits and possible drawbacks of Alternative Data in mortgage […]

VantageScore Can Help Expand Homeownership

WHAT CREDIT SCORE COMPETITION MEANS FOR YOUR MORTGAGE LENDING EXPERIENCE Credit score competition is coming to the mortgage industry but what does this mean for you, your family, and your friends? It means we now have the power and potential to expand sustainable homeownership opportunities to millions of Americans currently disadvantaged by traditional credit scoring models. How will it affect me? The model competition will result in more accurate, reliable, inclusive, and updated mortgage credit […]

A History of Credit

Credit bureau-based risk scoring systems, their formal title, have been commercially available since the late 1980s. They were initially used by credit card issuers but were quickly adopted by other types of lenders. The last holdout was the mortgage lending environment, but that too changed. In the mid 1990s, Fannie Mae and Freddie Mac informed mortgage brokers and lenders that they would have to begin using credit scores as part of the mortgage decision-making process.  […]

5 Factors That Affect Your Business Credit

What makes up your business credit score? What gives you the best chances of getting a loan? Here are a few factors that play into your business credit picture, and what you can do to make the most of them: Payment History – Your payment history is an important part of your business credit profile, and is what your D&B Paydex score is based on. Many credit opportunities come with a minimum Paydex requirement. What […]

Navigating the Scholarship Landscape

Grants and Scholarships are considered gift Gaid because students do not have to pay them back. However, it is important to understand the requirements of the grants and scholarships so that students can maintain those that are renewable throughout their academic careers. Especially with scholarships, it is important to know the duration of the scholarship so that this does not affect affordability after the freshman year.  The great news is that there is no limit […]