Although the new FICO credit model, FICO 9, has been met with much optimism, it is unlikely that it will be used any time in the immediate future.
The new model could boost individuals’ scores by as many as 25 points by essentially ignoring paid collections and paying little attention to paid and unpaid medical debt.
While realtors love the idea of this more borrower-friendly model, lenders have been a bit more reserved in the wake of the recent mortgage crisis.
Image via flickr/reynermedia
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