HUD to Consider Credit Scoring Alternatives?

The U.S. Department of Housing and Urban Development is looking at the way companies calculate credit scores as part of its effort to improve credit access to Americans, HUD Secretary Julian Castro recently told several real estate trade groups.

“We do hear about the need to look at new ways of incorporating and analyzing data so that it’s more sensitive to getting at the responsibility folks have shown in their lives that would indicate—be predictive of—their future behavior and paying down that mortgage,” Castro said during a Credit Access Symposium on April 1, as reported by the National Association of Realtors (NAR). More here. 

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