Comment Detail
Date: 01/18/18 First Name: Shelly Last Name: Coleman Email: scoleman@kvsb.com Organization Type: freddie mac Organization: Kaw Valley State Bank & Trust Co Comment
Please recommend one scoring model (Option 1) - the model needs to be updated to reflect more current credit trends, but enhanced requirements to produce scores from multiple models is going to ultimately increase the cost to retrieve credit scores. We pass the fee on to borrowers if a loan is closed, this will add extra to their closing costs in an already tight market where cash is limited. Even if we absorb the cost of the reports, we will have to increase our origination fee to offset the additional expense.
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