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by hnburnsy
717 days ago
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Most government securitized backed mortgage loans (which has 70% of the market) require a credit pull. Private or direct lending can have a different set of lending standards. From FNMA... https://selling-guide.fanniemae.com/sel/b3-5.1-01/general-re... >Credit scores are required for most loans purchased or securitized by Fannie Mae. The classic FICO credit score is produced from software developed by Fair Isaac Corporation and is available from the three major credit repositories. Fannie Mae requires the following versions of the classic FICO score for both DU and manually underwritten mortgage loans: Equifax Beacon® 5.0;
Experian®/Fair Isaac Risk Model V2SM; and
TransUnion FICO® Risk Score, Classic 04.
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