EPISODE · Nov 8, 2022 · 21 MIN
Episode 39: Game Changer Alert: The New Credit Scoring System You Need to Know About!
from KP Talks Dollars and Sense
The credit scoring is changing.We usually do a tri-merge credit report for loans that are funded. That's three bureaus Equifax, TransUnion, and Experian.Now you only need two. It's a FICO 10T report with trended data and a VantageScore report and their 4.0 algorithm. That will change the game, two years to implement.The Fed pivot used to mean we're raising, now we're cutting.The first phase of that pivot is maybe they're raising in smaller increments like a 50.Phase two is a hard pause, no more raising.And phase three of a Fed pivot, the final part to actually fully call it a pivot is that they would actually start cutting rates. Stay up-to-date on all the latest news, updates, and exclusive content by following us on all of our social media accounts! https://linktr.ee/kptalksdollarsandsense#KPTalks
Embed this episode
What this episode covers
The credit scoring is changing. We usually do a tri-merge credit report for loans that are funded. That's three bureaus Equifax, TransUnion, and Experian. Now you only need two. It's a FICO 10T report with trended data and a VantageScore report and their 4.0 algorithm. That will change the game, two years to implement. The Fed pivot used to mean we're raising, now we're cutting. The first phase of that pivot is maybe they're raising in smaller increments like a 50. Phase two is a hard pa...
NOW PLAYING
Episode 39: Game Changer Alert: The New Credit Scoring System You Need to Know About!
No transcript for this episode yet
Similar Episodes
No similar episodes found.
Similar Podcasts
No similar podcasts found.