Finance
A NJ homebuyer submits a mortgage application and the lender pulls a tri-merge credit report. The lender uses which credit score for underwriting purposes?
AThe highest of the three bureau scores
BThe middle score from the three credit bureaus✓ Correct
CThe average of the three scores
DThe most recent score
Explanation
Lenders pull credit reports from all three major bureaus (Equifax, Experian, TransUnion) and use the middle (median) score for underwriting purposes. If there are multiple borrowers, the lower middle score of the two is used.
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