As written previously, Fair Isaac, the FICO credit score company has emphatically stated, “There is nothing significant about 30 percent revolving utilization.”
However, according to an item in the domain veteransunited.com, “Most of the major credit bureaus are looking for this utilization rate to be somewhere around or below 30 percent.”
That domain houses a website of Mortgage Research Center, LLC whose NMLS ID is 1907. #n73762
While “major credit bureaus” is not defined in the article, the main three in the US are, non-alphabetically, Experian, Transunion and Equifax. Most, in that case, would mean two.
So, which two is the article referring to? #2103M
In 2014, The Credit Scoring Site engaged Mortgage Research Center dba Veterans United. The possible answers to the question posed then were Yes and No. In two attempts at answering, neither was given. #1408G
.@creditscoring Most lenders require a credit score of a least 620, Greg! #CreditChat
— Veterans United (@veteransunited) August 20, 2014
@creditscoring A minimum score of 620 for the VA Loan*
— Veterans United (@veteransunited) August 20, 2014
Add most lenders to most of the major credit bureaus.
@veteransunited is blocking @creditscoring on twitter.com. #ostricheffect
The Department of Veterans Affairs states, “Absence of a credit history is not generally considered an adverse factor.”
Mortgage Research Center also states, “FICO scores continue to be the most common among mortgage lenders and run from 300 to 850.”
That is not true. There are no 850 credit scores in mortgage lending. #Myth12