Data and document validation is more critical today than itâs ever been. Scrutiny by Fannie Mae and Freddie Mac is increasing as quality control timelines are shifting to earlier after loan purchase, reviews are becoming more comprehensive, and targeted sampling of loans based on risk attributes is expanding.
Credit Education Â» Credit Score Basics Â» What is a Good Credit Score. For a score with a range between 300-850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most credit scores fall between 600 and 750.
A credit score of 760-850 (a good score) will mean a total interest payment of $55,000. But if your credit score is around 620, your total interest payment an amount to $88,000. That is a difference of $33,000. The lower your score is, the higher the interest rate that you will have to pay for.aving a good credit score standing opens a lot of doors for you in the financial world. It simply means that you are not a credit risk. That is not because you do not have any loans but because you know how to pay them diligently. Here is a list of benefits that a good credit score can give you.