“Fannie Mae and Freddie Mac are the largest mortgage purchasers in the nation, but they rely on credit score models that do not take into account factors as simple as whether borrowers have paid their rent or utility bills on time,” wrote NAR President Elizabeth Mendenhall in the letter. “New credit scoring models that incorporate additional predictive metrics and payment history will open homeownership opportunities for many minority and underserved borrowers who lack access to traditional forms of credit.”
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