ON AIR NOW

LISTEN NOW

Weather

Sponsored By: Two Men and a Truck
cloudy-day
85°
Partly Cloudy
H 94° L 79°
  • cloudy-day
    85°
    Current Conditions
    Partly Cloudy. H 94° L 79°
  • cloudy-day
    90°
    Evening
    Partly Cloudy. H 94° L 79°
  • cloudy-day
    80°
    Morning
    Mostly Cloudy. H 92° L 76°
LISTEN
PAUSE
ERROR

The latest top stories

00:00 | 00:00

LISTEN
PAUSE
ERROR

The latest traffic report

00:00 | 00:00

LISTEN
PAUSE
ERROR

The latest forecast

00:00 | 00:00

What FICO credit score changes might mean for you

Credit tracking agency FICO could take some of the sting out of medical expenses.

The group announced plans to lessen the impact medical debt has on its credit reporting — outstanding medical bills will no longer lower credit scores.

"The move will make it easier for U.S. consumers to borrow money and banks to lend. It could be most beneficial for people applying for mortgage loans." (Video via CNBC)

>> Read more trending stories  

FICO even assigned a number to the improvement — as of 2012, the average FICO score was 689. If medical debt lowered your credit score, the change could increase it by 25 points.

FICO will also stop counting debts that went to collection and were paid off in full — a category which, until now, negatively impacted credit scores.

The Wall Street Journal characterizes it as a net benefit for consumers, who can now more easily get loans and will enjoy expanded loan eligibility.

But while it's all good for consumers, other members of the credit rating industry are dismissing any improvements.

VantageScore is a competing credit rating system, run as a team effort by credit agencies Experian, Equifax and TransUnion.

HousingWire quotes the president of VantageScore, who isn't impressed. He says, "Changes to the new FICO model apparently try to remedy many lender and consumer challenges already addressed by VantageScore."

That's not likely to bother FICO, which pointed out in its announcement a full 90 percent of consumer lending is based on its scores. FICO plans to implement the new system this fall.

See mroe at newsy.com.

Read More
VIEW COMMENTS

There are no comments yet. Be the first to post your thoughts. or Register.

The Latest News Headlines

  • The Houston Zoo had its hands full Wednesday as its newest edition, a two-week-old elephant calf named Joy, wriggled and scooted her way to temporary freedom.  A zoo visitor captured the moment on cellphone video as Joy lay on the ground, wiggling her way under the bottom cable of the enclosure. Once she was under, she stood up and ran down the line between the primary and secondary enclosure fences.  >> Read more trending news The video, shared with KPRC-TV in Houston, showed zoo patrons hurrying along the outer perimeter of the enclosure, phone cameras at the ready, as Joy enjoyed her jaunt. Zoo workers could be heard calling for handlers and asking the crowd to step back as Joy’s mother paced on the other side of the fence and voiced anxiety over the situation.  A zoo spokeswoman told KPRC that Joy never got past the secondary fence. She was not injured during her brief adventure.   Joy was born July 12 to Shanti, a 26-year-old Asian elephant, after a two-year pregnancy. The calf, who weighed 305 pounds at birth, began nursing within three hours and has since been doing well and meeting milestones, zoo officials reported on Facebook. 
  • The pastor of a Mandarin church has posted a sign outside calling Allah a 'fake God.' Several people reached out to Action News Jax, calling the sign Islamophobic. The sign says: 'Allah fake God, Jesus Christ the real God.' Pastor Gene Youngblood would not come out of First Conservative Baptist Church's locked doors when Action News Jax showed up to ask why he felt this was an important message to display. JFRD: Lightning may have caused business fire in downtown Jacksonville 'I do appreciate your contact. But the sign stands for itself, speaks for itself, to be proven by the Quran,' said Youngblood. 'Ignorance really cultivates fear,' said Alex Sivar, chairman of interfaith organization Atlantic Institute Jacksonville. 'This is a monotheistic religion and the three major ones are, of course, Islam, Judaism and Christianity. And all three of them are worshipping the same god.' Sivar, who is Muslim, said he'd like to invite Youngblood and his family to his home. 'Have a dinner, break bread with me, and ask me all the questions that he has that he doesn't have an answer,' said Sivar. In 2015, Youngblood took a sign saying 'Homosexuals must repent or go to hell' down after a petition. In 2012, he posted a sign saying, 'Pray for our president to be replaced.
  • A Texas teenager is facing felony charges after she falsely claimed she was kidnapped and raped by three African-American men in March, according to reports. >> Read more trending news Breana Harmon, 19, ran into a church wearing only a shirt, bra and underwear and told witnesses she had been abducted, taken to the woods behind the church and raped by two of the men as the third held her down, the Dallas Morning News reported. An investigation found that the cuts on her jeans did not match the cuts on her legs, authorities said. A nurse found no evidence of sexual assault after examining Harmon. Later in March, she admitted to police that she had made up the entire ordeal. Harmon told authorities that “things from her past started going through her head” and she “began cutting herself and her jeans,” the Herald Democrat reported. She then confessed that she had lied about the incident because she didn’t want her mother to know she was cutting herself. Harmon was initially arrested and charged with a misdemeanor. She was indicted Wednesday on charges including two third-degree felony counts of tampering with physical evidence and a felony count of tampering with a government record, among other charges. If convicted, she faces up to 10 years in prison. “The more we have looked at what happened in this case, and considered the harm it caused, and certainly could have caused, we believe what she did fits these higher charges,” Grayson County District Attorney Joe Brown said in a statement. “What she did was very serious, and we believe it was felony conduct.”  The Herald Democrat reported that the Denison Police Department, which investigated the case, is also seeking $8,000 in restitution.
  • A 39-year-old Utah woman was killed by her husband aboard a Princess Cruise ship Tuesday night because, he told authorities, she wouldn’t stop laughing at him, according to the FBI. >> Read more trending news An FBI spokeswoman said Thursday that authorities arrested a man in the case after the ship was diverted to Juneau, Alaska. He was identified by The Associated Press as Kenneth Manzanares. Authorities said the woman, who was identified only as K.M., was killed during a loud domestic dispute on the Emerald Princess around 9 p.m. Tuesday, while the ship was traveling the waters off Alaska, The Associated Press reported. “Court documents say a man entered the cabin and saw the woman on the floor covered in blood,” according to the news wire. “Records say Manzanares grabbed his wife’s body and dragged her to the balcony before the witness stopped him.” A passenger on the ship told KTVA that he heard “two or three ladies or girls, definitely women, screaming” on the night of the incident.  He told the news station that his wife looked over their room balcony and saw a man “bruised, cut and covered in blood.” The ship left on Sunday from Seattle, carrying 3,400 passengers on a week-long trip.  The Cox Media Group National Content Desk contributed to this report.

The Latest News Videos