Freddie Puts ‘Mission-Centric’ Focus on Affordable Housing
By Jennifer Jope
Getting more “mission-centric,” Freddie Mac will focus its attention on affordable housing this year. In Boston, where housing prices are high, rents continue to increase and workforce housing is hard to come by, one Freddie Mac executive assured local industry professionals that the government-sponsored enterprise will continue to support affordable housing initiatives.
Innovative Credit Scoring Adopted by MassHousing
By Jennifer Jope
In an ongoing effort to cater to consumers with nontraditional credit, MassHousing, a quasi-public agency that functions as the state’s affordable housing bank, has become the first lender nationwide to implement a new method of credit scoring. The pilot program, Anthem Score, was created by California-based First American CREDCO and is specifically designed to help mortgage lenders and investors better gauge the credit risk posed by borrowers with little or no credit history, or income and ability to repay that is difficult to assess.
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