Fannie Drops FICO Scores
Collections & Credit Risk (09/00) Vol. 5, No. 9 p.11; Green, Meg

Fannie Mae is dropping FICO credit scores as a criterion in its current underwriting system. Instead, Fannie Mae is replacing credit scores with specific credit characteristics. Some of these items will include public records, past delinquencies, foreclosures, and accounts in collection. The credit characteristics will be taken directly from the borrowers' credit report.

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