(RECAP: The FICO score may no longer be as vital as it once was in the mortgage application and underwriting process, as evidenced by recent statements made by a leading marketplace lender, government-sponsored enterprise (GSE) Fannie Mae and members of the U.S. House of Representatives. Meanwhile, others in the mortgage business say that although FICO, available since 1991, could use some updates to accommodate certain borrowers, it might be too soon to dismiss the measure by Honest Isaac Corp. Some changes are under way. Last year, Fannie Mae announced that beginning in mid-2016, the GSE will require lenders to use trended credit data when underwriting single-family borrowers through Desktop Underwriter. For its part, FICO is piloting a new score, FICO XD, which incorporates data from the National Consumer Telecom & Utilities Exchange, including information on whether people pay their cable, utility and other bills.)

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