Credit Report Q&A

How do FICO scores enter into the loan modification process, if at all?

Your servicer will likely use your FICO® score, along with other factors, to help determine the new terms of your loan, such as your mortgage rate. In general, your FICO score plays a key role any time you apply for new credit or change the terms of a loan. That's why staying credit savvy and maintaining a good credit rating remains so important.

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FICO® Score

The Score That Matters®

The FICO Score is the standard credit score in the US, used in more than 90% of lending decisions. Learn more

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myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
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