Credit scores

Millennial credit scores are lower than when Generation X consumers were coming of age, reflecting changes in credit consumption and other consumer behaviors.

FHFA Director Mel Watt said Fannie Mae and Freddie Mac cannot use alternative credit models until other issues are resolved first.

A bipartisan duo of lawmakers is set Tuesday to introduce a bill designed to increase homeownership opportunities for “credit invisible” consumers.

The share of closed purchase loans remained flat in June, affected by the lack of homes for sale, according to Ellie Mae's Origination Insight report.

Lower credit scores for mortgages refinanced in the first quarter are likely to lead to increased defaults of these loans, said Black Knight Financial Services.