ECRID Offers Federal Housing Finance Agency (FHFA) Credit & Lending Platform to Immediately Assist Low-Credit and No-Credit Home Buyers, and Others Press Release | 11/21/2022
Stuart, FL, Nov. 21, 2022 (GLOBE NEWSWIRE) — Ecrid, Inc. (OTC: ECDD) (“ECRID”) announces today details on the Company’s FHFA Lending Platform. The revolutionary platform is detailed below:
A New Measure of Credit
The traditional FICO credit score that Fannie Mae and Freddie Mac rely on to approve home buyers will soon be a thing of the past. After about eight years of working toward a better solution, the Federal Housing Finance Agency (FHFA) announced a new model that will make it possible for a wider range of borrowers to qualify for home loans. While it could take a few years to implement, the dual-score model is designed to expand credit access and make it easier for home buyers with “non-traditional credit” to get mortgage-qualified.