Credit

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 combination of inflation and rising interest rates over the last 18 months has made it more difficult for Americans to stay on top of their loan payments, especially on credit cards and auto loans.

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.

Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.

This first step in updating borrower assessments was seen as the easiest and could reduce costs, but stakeholders fear change that reduces data inputs.

The decision from the Federal Housing Finance Agency to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit, writes the founder and CEO of Financial Services Innovation Coalition and a certified general appraiser at the Dawson Valuation Group.

The association thinks this could simplify and manage the costs of two new pending credit requirements by allowing companies to add the one that's been through a price hike second.

After a Supreme Court ruling, forgiveness for education debt looks unlikely but some of those exiting forbearance for it get a year-long break on credit and fees that could be helpful.