Industry NewsMortgage

Mortgage lenders to get more insight into borrowers’ pasts

Rental applications, child support payments to be factored into new credit reports
Published on Oct 10, 2011

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Mortgage lenders will soon have access to new details about a prospective borrower's past -- such as past rental applications, inquiries to pay-day lenders, and missed child support payments -- that can be factored into FICO scores.

Real estate and mortgage data aggregator CoreLogic says it's signed an agreement to work with Fair Isaac Corp., the owner of the widely used FICO score, to develop new credit risk scores for the U.S. mortgage industry.

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