Fannie and Freddie will stick with FICO formula

 

Source: Kenneth Harney, Washington Post ( Paid Registration )

If you’ve been waiting for the long-anticipated news that the two dominant players in the home-mortgage arena — Fannie Mae and Freddie Mac — finally have decided to overhaul their outdated credit-scoring systems to expand homeownership opportunities for a broader range of consumers, sorry. Your wait just got a lot longer.

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