Jeff Taylor, Co-Founder & Managing Director at Digital Risk, an Mphasis Company, was recently quoted in US News and World Report in the article titled “What Will Cost More – and Less – in 2019” talking about the cost projections for 2019.
“What you’re going to see is millennials finally making their way into the housing market,” says Jeff Taylor.
Speaking about the new opportunities for younger borrowers, Taylor points to a rollout of UltraFICO scores as helping to propel younger buyers into the market. Currently being piloted, UltraFICO is a new credit scoring model that will allow checking and savings accounts to be included in calculations, something that could boost the scores for those with limited credit histories. Once it is fully rolled out next year, consumers will be able to opt into having an UltraFICO score created. They can also choose which bank accounts to link to their score. “That’s going to open up the box a lot in terms of millennial buyers,” Taylor says.
Read the full story here