The KUIK Closing Market Report for Wednesday, August 2:
Markets ended mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow
Up
52
points
22,016
2:47 PM
S&P500
Up
0.1%
percent
2,478
1.22
Nasdaq Composite
Down
0.0%
percent
6,363
(0.29)
30 Year Treasury
Unchanged
–
basis points
2.85
Annual Yield
A new bill in the Senate would require Fannie Mae and Freddie Mac to use alternative credit scoring models, which could expand Americans’ ability to buy homes. The bill, which is co-sponsored by Sens. Tim Scott (R-S.C.) and Mark Warner (D-Va.), would direct the mortgage companies to create procedures that to consider credit scores other than the traditional FICO score when making the decision to purchase a residential loan. That would allow lenders to use alternative credit scores, such as the VantageScore or FICO Score XD, to determine if consumers are creditworthy.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
