FICO credit scores and credit histories are key factors in residential mortgage lending. In our economic system, strong credit is one of the keys to prosperity. People with great credit get approved for loans, and they pay less. There is an understandable code to the credit system that we will explore. You will leave this class with a strong understanding of the FICO credit scoring system and credit reports.

Learning Objectives

• Understand the fundamentals of credit scoring, the general credit rules of mortgage lending and why those exist.
• Recognize actual FICO scores and the relative strength of that score.
• Identify positive and negative factors that impact a credit score.
• Understand the financial impact of credit ratings.
• Know which factors do not impact credit scores.
• Be familiar with consumer rights regarding their credit reports.
• Identify some tools to assist with credit.

Past students say:

“It was a very helpful class for me as it gave me a better understanding of the criteria by which the FICO Scores are assigned. In general, I understood aspects of the Score that I’ve never
known before, and I feel after the class I have acquired knowledge that will help me serve my clients properly.”