Credit scores

One depository has now joined two nonbanks in publicly announcing they're using the advanced score ahead of planned broader implementation by the agency market.

Institutions obtaining financing from the FHLB that's secured by their mortgages can now use the advanced score to underwrite collateral loans.

The guidance also underscores consumer rights to obtain access to their own information as well as identities of sources providing data.

That's the higher-end estimate of people who will be eligible for government-related financing when expanded metrics are used as part of an initiative to expand access to homeownership.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

An analysis of previously released S&P data suggests the Federal Housing Finance Agency's initiative would have mixed impacts on the price of loans and eligibility that vary by individual.

The lender involved is interested in seeing how the newer model works in conjunction with nonconforming mortgages while the government-sponsored enterprises plan broader adoption.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

The Federal Housing Finance Agency is adding advanced models that include rental payment histories and trended data, but others tap cell phone or consumer-permissioned bank data.

Removing such debt information from consumer reports generated an uptick in home loan inquiries in one study and other industries have found advanced score use pays off.