The Washington Report
REALTOR Insider DC News and Events Report
NAR Posts Information on FICO, FHA, Fannie Mae, and Freddie Mac Credit PoliciesNAR has posted information about the credit-related policies of the FICO Corporation, the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac on www.Realtor.org. The new documents give REALTORS and consumers accurate information about various credit policies of these organizations.
The document titled "Frequently Asked Questions: FICO Scores" provides general information about how FICO scores are computed, the impact of shopping for credit on a FICO score, how long negative information remains on a credit report, and how various adverse credit events affect a FICO score. The chart on the "Impact of Adverse Credit Events on the Ability of Consumers to Purchase Another Home" sets forth the rules for requalifying for a mortgage after a short sale, a deed-in-lieu of foreclosure, a foreclosure, and a bankruptcy under FHA, Fannie, and Freddie rules.
Frequently Asked Questions: FICO Scores
Impact of Adverse Credit Events on the Ability of Consumers to Purchase Another HomeJeff Lischer 202-383-1117 begin_of_the_skype_highlighting 202-383-1117 end_of_the_skype_highlighting, Tony Hutchinson 202-383-1120 begin_of_the_skype_highlighting 202-383-1120 end_of_the_skype_highlighting
