Finance
A Minnesota couple applies for a mortgage and both their names are on the application. The lender must use which credit score for underwriting purposes?
AThe average of all three bureaus for both applicants
BThe highest score among all applicants
CThe lowest middle score among all applicants✓ Correct
DThe primary borrower's score only
Explanation
For joint mortgage applications, lenders use the lowest middle score (middle of the three bureau scores) among all applicants on the loan. This is standard practice for Fannie Mae/Freddie Mac loans.
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