Fannie Mae announced that in mid-2016, it will adopt several new measures in evaluating mortgage applications, The New York Times reports.
Among the new measures is looking at a “tri-merge” credit report, which compiles data from TransUnion, Equifax, and Experian for all mortgage applications. The data will go back 30 months of the applicant’s credit behavior, and indicate whether the applicant has been making payments on time, whether the borrower tends to carry balances from month-to-month, pay more than the minimum, or pay off balances in full.
According to the New York Times, these changes “could help some borrowers and hurt others.”
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