FICO’s Lock on Mortgage Credit Scores Comes Under Fire
Wall Street Journal, Mar. 14, 2018–AnnaMaria Andriotis, Lalita Clozel (subscription)
Lawmakers last week proposed adding a provision to a bank-deregulation bill that would require mortgage-finance giants Fannie Mae and Freddie Mac to consider credit scores beyond Fair Isaac Corp.’s FICO score for determining a mortgage applicant’s creditworthiness. Fannie and Freddie backed nearly half of all U.S. mortgage dollars originated in 2017, according to Inside Mortgage Finance.
