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 April 22, 2007

New Type of Credit Score Accounts for Timely Rent, Utility Payments
In order to help prospective borrowers build upon their credit history, Fair Isaac has just launched a new FICO Expansion score.
This new scoring system measures a potential borrower's credit worthiness by taking in account timely payment of such expenses as utility payments, monthly rent and good checking account records.

Auto dealers and credit card companies have embraced the new scoring system, however mortgage lenders have not, and are unlike to until Freddie Mac and Fannie Mae opt to purchase the loans that would result form the scoring model.

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