#credit-scores

#credit-scores

The federal government has resumed reporting student loan delinquencies, significantly impacting borrowers' credit scores and risking economic slowdown.

Student loan balances were less affected by refinancing, declining gradually rather than sharply unlike credit card and auto loan balances.

A high credit score doesn't guarantee financial success, but building credit remains important for opportunities.

Mortgage rates are influenced by multiple factors beyond the Federal Reserve, with a focus on improving credit scores for better mortgage terms.

You can buy a house even with no credit score through manual underwriting, contrary to modern beliefs that a credit profile is essential.

Car finance and personal loans are two options for purchasing a vehicle, with distinct differences in ownership and payment terms.

Personal loan rates are increasing and may not drop immediately despite Fed rate cuts.

Xactus partners with FICO to launch a simulator tool for lenders to predict the impact of financial actions on borrowers' credit scores.

Incorporating Buy Now, Pay Later loans into credit scoring could positively impact many consumers' credit scores.

Mortgage bankers are frustrated over potential price hikes for FICO scores, viewing it as an exploitation of their position in the market.

Mortgage credit-score costs are expected to rise in 2025 due to increased home loan applications and changes in pricing by Fair Isaac Corp. (FICO).

FICO increased its mortgage score royalty from $3.50 to $4.95, maintaining a small percentage of overall mortgage closing costs.

Borrowers with strong credit secure mortgages at low rates, motivating both refinance and purchase activity.

New law allows reporting of rent payments to improve renters' credit scores, aiding in financial stability and homeownership opportunities.

Medical debt significantly affects families financially, prompting recent legislative changes to alleviate its impact on credit reports.