FICO Score definition

FICO Score. A statistical credit score obtained by mortgage lenders in connection with the loan application to help assess a borrower's credit worthiness.

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FICO Score means a score based on the credit risk rating system established and maintained by the Fair ▇▇▇▇▇ Corporation.

FICO Score means the credit score of the Mortgagor provided by Fair, ▇▇▇▇▇ & Company, Inc. or such other organization providing credit scores on or immediately prior to the Origination Date of a Mortgage Loan.

Examples of FICO Score in a sentence

• If on any Determination Date the weighted average FICO Score of all Loans with an original term of longer than 84 months as of the last day of the immediately preceding Due Period is not at least 655 (the “7-Year Loans Restriction”), then the Servicer shall, at the direction of the Issuer, specify in writing Loans to be included in the FICO Score of 7-Year Loans Excess Amount such that, upon such inclusion, the 7-Year Loans Restriction shall be fulfilled.

• If on any Determination Date the weighted average FICO Score of all Loans with an original term of longer than 120 months as of the last day of the immediately preceding Due Period is not at least 730 (the “10-Year Loans Restriction”), then the Servicer shall, at the direction of the Issuer, specify in writing Loans to be included in the FICO Score of 10-Year Loans Excess Amount such that, upon such inclusion, the 10-Year Loans Restriction shall be fulfilled.

More Definitions of FICO Score

FICO Score means, with respect to any Mortgagor, the statistical credit score prepared by Fair ▇▇▇▇▇ Corporation, Experian Information Solutions, Inc., TransUnion LLC or such other Person as may be approved in writing by Buyer in its sole discretion.

FICO Score. The credit evaluation scoring methodology developed by Fair, Isaa▇ ▇▇▇ Company.

FICO Score means a statistical credit score obtained by many mortgage lenders in connection with a loan application to help assess a borrower’s creditworthiness. A FICO Score is generated by models developed by a third party and made available to lenders through three (3) national credit bureaus. The FICO Score is based on a borrower’s historical credit data, including, among other things, payment history, delinquencies on accounts, levels of outstanding indebtedness, length of credit history, types of credit and bankruptcy experience.

FICO Score. The credit score of the Mortgagor provided by Fair, ▇▇▇▇▇ & Company, Inc. or such other organization providing credit scores on the origination date of a Mortgage Loan; provided, that if (a) two separate credit scores are obtained on such origination date, the FICO Score shall be the lower credit score; and (b) three separate credit scores are obtained on such origination date, the FICO Score shall be the middle credit score.

FICO Score means the Fair ▇▇▇▇▇ & Company or similar computer analytical objective scoring model ascertaining a borrower’s credit reputation based on a scale of 350-900, the lower the number, the greater the probability of default.

FICO Score means the standard consumer credit scoring system created by Fair ▇▇▇▇▇ Company and commonly used by consumer credit agencies in the United States, together with any successor system during the term of this Agreement.

FICO Score. A statistical credit score obtained by mortgage lenders in connection with the loan application to help assess a Mortgagor’s creditworthiness. Fidelity Bond: A fidelity bond to be maintained by the Company pursuant to Section 5.12.