The dependable service you receive will not change. Types of applications that were approved in the past will be approved in the future. We obtain the credit score from an outside firm-Fair, Isaac and Company. As one of the leaders in credit scoring technology, Fair, Isaac developed its credit-scoring program based on credit reports from millions of consumers. FICO scores can be as high as 900.
Higher scores mean less risk.
A low score does not necessarily mean a denial. It just tells the underwriter that the application may need extra attention. For purchase and refinance loans, scoring will be just one more tool to look at in determining the creditworthiness of the borrower.