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  • Comment Detail

  • Date: 03/15/18
    First Name: Jaclynn
    Last Name: Nortley
    Email: jnortley@caajlh.org
    Organization Type: other
    Organization: Community Action Agency

  • Comment

    Our input on the Fannie Mae and Freddie Mac Credit Score Requirements, is we believe the standard credit scoring should change from FICO to FICO 9. FICO 9 differentiates unpaid medical accounts in collections from unpaid non-medical accounts in collections. This would help people with medical expense's they have in collections be able to become homeowners if we made FICO 9 the industry standard. At this moment medical bills in collections bring your credit score down so much in most cases you are disqualified from getting a home loan. This is making it hard for people with medical issues become home owners. once a medical bill goes on your credit report, even after you pay that debt off your credit score does not go all the way back to where it was before the medical bill hit your credit report. We believe changing the FICO scoring to FICO 9 will help out Home Buyers.