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FICO Scores and Mortgages

A number of Realtors® responding to the February 2012 Realtors Confidence Index survey, indicated that prospective home buyers had difficulty in qualifying for a loan. Although interest rates are currently low, some prospective purchasers are reported as having problems in qualifying. A comparison of FICO scores for transactions as reported by Realtors® responding to the RCI compared with FICO scores reported by Fannie Mae’s “Acquisition Profile by Key Product Features” shows that credit availability to lower scoring applicants seems to have declined.

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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