MAJOR Credit Score Changes | Say Goodbye to FICO Scores. For many years, the FICO score has been the dominating factor when it comes to banks lending. But recently, banks are starting to look at alternative ways of how they qualify people for lending, pretty much eradicating the use of the FICO score. With the lenders moving away from the FICO score, they will be relying on their own data to mitigate risk to borrowers and have their own perquisites before lending. So in this video we take a look at what could potentially happen and also dig into some nefarious stuff that one bank in particular is making things look into social credit.... 0:00 Intro 0:40 What is the FICO score? 1:50 What was FICO used so much previously? 3:35 What are banks looking at if not your FICO score? 4:08 How this will effect the housing market 5:40 Social Credit?! 7:42 Final thoughts ๐Ÿ˜ƒ Thanks for Subscribing & Liking our Video! ๐Ÿ“ง โŒจ๏ธ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com ๐Ÿ“Š Pay Off Your Mortgage In 5-7 Years (On Average): https://www.youtube.com/watch?v=eGVn9iq1e6c ๐Ÿ“Š Get Our Book "Break Free From Your Mortgage" https://acceleratedbanking.com/book ๐Ÿ’ป JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS: https://www.facebook.com/groups/bestreigroup ๐Ÿ’ณ Are you a Business Owner? Start Accepting Credit Card Payments with Lower Fees: http://emap.easypaydirect.com/go/signup/vf8d3N ๐Ÿ”Š Our Podcast: ๐Ÿ”นSpotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B ๐Ÿ”นiTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 ๐Ÿ“ง Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #realestateinvesting #thekwakbrothers #realestate ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.