FM SFLP.Co-Borrower Credit Score at Origination

From Open Risk Manual

Definition

Co-Borrower Credit Score at Origination: A numerical value used by the financial services industry to evaluate the quality of borrower’s credit. Credit scores are typically based on a proprietary statistical model that is developed for use by credit data repositories.

These credit repositories apply the model to borrower credit information to arrive at a credit score. When this term is used by Fannie Mae, it is referring to the "Classic" FICO score developed by Fair Isaac Corporation.

Notes

This is the representative credit score provided to Fannie Mae by the Seller at the time of loan acquisition. The representative credit score of an individual borrower is either

  • the lower of two scores if a score is received from two Credit Score Repositories for the borrower, or
  • the middle of three scores if a score is received from three Credit Score Repositories for the borrower.


This evaluation is done for each borrower on the loan.

If there are more than two borrowers, the Borrower Credit Score at Origination field will be populated with the primary borrower’s representative credit score. The Co-Borrower Credit Score at Origination field will be populated with the lowest representative credit score of the remaining borrowers, unless the primary borrower’s representative credit score is the lowest of all the borrowers, in which case the Co-Borrower Credit Score at Origination will be populated with the secondary borrower’s representative credit score.

If the borrower credit score is unknown, the value will be blank..

The field belongs to the FM SFLP Template

Field Characteristics

  • FM SFLP Field Index: 25
  • Column Label: CSCORE_C
  • Data Type: NUMERIC
  • Data Maximum Length: 9(3)

See Also

Disclaimer

This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates