• A Background on Credit Scoring Models

    2 monthes ago - By RIS Media

    Homebuyers who have a better credit history over a longer stretch of time than a shorter one may benefit by a change to the credit-scoring model used by Experian.
    Up until about 2016, mortgage lenders didn't use trended credit data and didn't differentiate between types of credit usage.
    What is “trended credit data?” It's the information that credit bureaus gather on how consumers manage their credit card balances, and it goes beyond paying your credit card bills on time each month.
    The updated model-Trended 3D-uses trended credit data to provide information on borrowers' balances and...
    Read more ...