Expanded Data Key to Opening Up Mortgage Credit

Trended credit data, which offers an expanded perspective to lenders evaluating a credit applicant, could be key to opening up mortgage credit accessibility, according to an analysis by Equifax, one of the three major credit reporting bureaus. The analysis found that the use of trended credit data—an indicator of behavior beyond the traditional credit report—could boost mortgage loan approvals by 267,000 and home equity line of credit (HELOC) approvals by 65,000.
Trended credit data,