Lenders using new credit score may approve more loans

CoreLogic providing supplemental consumer credit data for new FICO Mortgage Score

Mortgage lenders now have access to a new credit score designed to uncover potential borrowers’ hidden credit histories and more accurately predict mortgage loan performance.

Last fall, Santa Ana, Calif.-based real estate and mortgage data aggregator CoreLogic signed an agreement with Fair Isaac Corp., the owner of the widely used FICO score, to develop new credit risk scores for the U.S. mortgage industry.