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Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I've been following this for a little bit.  Basically it can make bad scores worse and good scores better.


What worries me, is that Sen. Warren opposed a law that would prevent lenders from using your political affiliation, religious beliefs and social media history IN YOUR SCORE.  One step closer to a version of the Chinese "Social Credit Score"... and this was just a couple weeks ago!

Feb 12, 2020 03:51 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

As someone who believes in financial responsibility I don't see this as a bad thing Wanda Kubat-Nerdin - Wanda Can!  Those of us who are financially responsible are the ones who pay for those who are not. Hopefully this may stop some who "game" the system. One thing I learned from our oil boom is that there are a lot of people who game the system. Many, and I do mean many, oil workers who came here from other parts of the country purchased homes here treating them as if they were renting, fully intending to let them go back to the bank when they would return to their home State and the houses they left there. The courts do little to nothing about it because "after all they need a place to live" so there is no penalty levied against them that would endanger them losing the original home from which they came from. If it were up to me they should have that home taken from them and be given a cardboard box to live in (or a jail cell for screwing the lenders they defrauded).

Feb 12, 2020 06:22 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Seriously we do not need to make anything more my  market it is really getting hard to get a loan and that is because of the outrageous prices we have....

Feb 12, 2020 06:03 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Definitely can't(so I won't) top Alexandra's Ron and Alexandra Seigel answer where she mentioned and paid tribute to Roseanne Rosannadanna.  Thanks for the good memories.  There's always something 

Feb 12, 2020 04:01 PM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I heard about it last year, but I'll check out the article.

I think Jason E. Gordon shared this info with me at one of our meetings.

Feb 12, 2020 05:26 PM
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

yes, it's awful. I read it in AR Peeps.

Feb 12, 2020 04:08 PM
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Don't you love a sensationalistic title?!

I can honestly say that I have worked with less than a handful of buyers that a 20-point decrease in their score would matter. But, they also state that some consumer credit scores could RISE 20 points!

So, in my opinion, we're back at square-one, right?!!

Feb 12, 2020 03:53 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy


This reminds me of a skit on Saturday Night Live, when Gilda Radner used to say, "It is always something, it it isn't one thing, it is another!".  And I say, there will be work-arounds...there always are!  LOL A

Feb 12, 2020 03:42 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks, I hadn't seen it but heard some changes were coming. As Ron and Alexandra Seigel said, Roseann Roseannadanna's catch phrase is right on target. Just watched a movie the other night about Gilda Radner - the world lost a wonderful comedienne to a horrible disease!

Feb 12, 2020 04:09 PM
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

Read information about it from our preferred lender a couple of weeks ago.

Feb 13, 2020 02:17 PM
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ

I didn't read that article but rather heard it on Fox Business. They're looking at 'how' people use the credit instead of the number.  For instance some folks may charge a lot on a card and they also pay it off every month. They use the card because they get perks or money back for using it. These folks numbers will likely go up, if they have room to go up.  Going the opposite direction those that don't use credit wisely the scores will most likely go down.

Feb 13, 2020 09:46 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Change is a constant in life.  I had not read that, Wanda. 

I'm receiving lots of SPAM emails regarding stated income loans. 

As the pendulum swings ...

Feb 13, 2020 08:42 AM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Oh great. So they'll ding me for my shopping problem.


Feb 13, 2020 08:37 AM
Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

And I thought I was up to speed in following the news but I guess not...

Feb 13, 2020 02:29 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Nope, I dont pay much attention to credit scores.

Feb 12, 2020 08:31 PM
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Not that article but another. They will be looking at your collection of debt to see if it's increasing. I don't think that's a good thing since I will be purchasing a car this year and they cost more than my friends first home

Feb 14, 2020 06:19 AM
John Juarez
The Medford Real Estate Team - Fremont, CA

I have seen and heard of the changes elsewhere. Nothing earth shaking as far I can see.

Feb 13, 2020 03:28 PM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for the link.

Feb 13, 2020 08:11 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Speaking to my favorite loan officers, the simple answer is those who pay on time will get better, those who ae always late will get worse.

Feb 13, 2020 05:20 AM