Credit Risk Score

September 9, 2015

A credit score measures a consumer's credit risk relative to the rest of the U.S. population, based on the individual's credit usage history. The credit score most widely used by lenders is the FICO® score, developed by Fair, Issac and Company. This 3-digit number, ranging from 300 to 850, is calculated by a mathematical equation that evaluates many types of information that are on your credit report. Higher FICO® scores represents lower credit risks, which typically equate to better loan terms. In general, credit scores are critical in the mortgage loan underwriting process.

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A credit score measures a consumer's credit risk relative to the rest of the U.S. population, based on the individual's credit usage history. The cred...

Credit Risk Score

September 9, 2015

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