Note In Need of an Update: Credit Scoring in the Mortgage Market
Laurie Goodman
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The credit score model currently in use for mortgage lending is outdated by nearly two decades. More recent models are available and should be used by the GSEs and mortgage lenders to encourage competition and transparency, and to allow the market to more fully and fairly serve all creditworthy borrowers seeking a mortgage.
Research Areas Housing finance Housing
Tags Federal housing programs and policies Housing markets Homelessness Housing and the economy Single-family finance Agency securitization Credit availability Finance
Policy Centers Housing Finance Policy Center