Exceptions to the Minimum Credit Score Requirement

Certain transactions are not subject to the minimum credit score requirement, including:

• loans where no borrower has a credit score (see Section Nontraditional Credit History);

Refer to Section Nontraditional Credit History, for underwriting and eligibility requirements for loans in which one or more borrowers do not have a credit score.

Frozen Credit Requirements

If the borrower’s credit information is frozen at one of the credit repositories for borrowers who have traditional credit, the credit report is still acceptable as long as

• credit data is available from two repositories,

• a credit score is obtained from at least one of those two repositories, and

• the originator requested a three in-file merged report.

Loans for borrowers with credit data frozen at two or more of the credit repositories will not be eligible.