New Insights Into Trended Credit

07/28/2016
Comments
  • What is the possibility that this Trended Data is motivated by something related to steering classes based on political influence? Seems that the data should be used by all if it”s upfront!

    Jeff July 28, 2016 5:51 am Reply
  • Seriously? How is the underwriter not seeing this data. It’s on my credit reports right now and they are going right into underwriting. You know if FNMA is going to use it the other GSEs will be quick to follow. I don’t see much good coming out of this for the consumer.

    Michele July 28, 2016 6:11 am Reply
    • Michelle, seriously is correct. The underwriter will not see the trended data unless it is printed and out in the file,with the credit report when submitted by processing. Fannie Mae has given strict guidance to underwriters that they are not to consider the data as it has already been considered in automation and given the “value” it deserves.

      I agree that other GSE’s will most likely follow and I thought I may have said that in the interview. Fannie always steps out there first and then Freddie, FHA and VA follow. This link may help you. http://www.fanniemae.com/portal/about-us/media/corporate-news/2015/6305.html

      Juliana Brock July 29, 2016 6:20 am Reply
  • She did a great job there are some other unintended consequences https://thecreditguy.tv/trended-credit-data-unintended-consequences/

    Dave Sullivan July 28, 2016 6:21 am Reply
    • Thank you Dave. Hard to say everything you want to get across in 5 minutes.

      Juliana Brock July 29, 2016 6:22 am Reply
  • I thought I knew nothing about Trended Credit. Turns out I was wrong. After watching the video, I now know even less than I did before.

    Manny July 28, 2016 9:44 am Reply
  • It is important to know that the Trended Data (aka Time Series Data) is only, for now, being implemented into the internal scorecard for Fannie as part of their 10.0 DO rollout. The FICO scores will NOT be affected b/c NONE of the current Mortgage FICO scoring models consider trended data yet… It could be a couple years before trended data affects the actual credit scores. For now and even after the Sept. Fannie rollout, paying down revolving credit card balances could still improve scores but that may not work as well when scoring models get up to speed. So don’t worry about scores being higher or lower for now. How much weight Fannie puts into their internal scorecards for their risk assessment is really yet to be seen.

    Jim Droske July 29, 2016 6:44 am Reply
  • All good information but there is more to add…it is important to know that the Trended Data (aka Time Series Data) is, for now, only being implemented into the internal scorecard for Fannie as part of their 10.0 DO rollout. For now, the FICO scores will NOT be affected b/c NONE of the current Mortgage FICO scoring models consider trended data yet. It is in the reports but not considered in the scoring algorithms. It could be a couple years before trended data affects the actual credit scores. For now and even after the Sept. Fannie rollout, paying down revolving credit card balances could still improve scores but that may not work as well when scoring models get up to speed. So don’t worry about scores being higher or lower for now. How much weight Fannie puts into their internal scorecards for their risk assessment is really yet to be seen.

    Jim Droske July 29, 2016 7:14 am Reply
  • So should the credit reports NOT have the trended data information on them?
    Our credit reports are showing all trended data information. Any input from anyone if all agencies are putting the trended data on their reports?

    Gail Falbo August 1, 2016 7:53 am Reply

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