[rufus_foreman]

>> seems like a startup opportunity

"In 2006, the three credit bureaus decided they were tired of FICO’s position in the industry, and created a rival, called VantageScore, offering credit ratings for much cheaper than FICO"

...

"A few years ago, the Federal Housing Finance Agency (FHFA), which runs most housing finance for the government through its control of secondary mortgage buyers Fannie Mae and Freddie Mac, decided that it might want to create some competition for FICO. So it turned to VantageScore ... Instead of allowing mortgage lenders to pick either FICO or VantageScore, FHFA simply required that lenders use both. So now, instead of having to deal with one monopoly, mortgage lenders will have to deal with two"

This is not a market problem, or a technical problem. The problem here is the US federal government.

[nytesky]

If all these loans are “guaranteed” by FM, ie US govt, why even have all these middle men taking a cut — why not do mortgages like Direct Loans from the govt?

[Workaccount2]

"Creating jobs"