Equifax Creates new rating for ARM holders

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Credit reporting agency Equifax recently unveiled a new rating system that identifies credit seekers who may have an adjustable rate mortgage. The ARM Predictor is meant to minimize risks for lenders, but some consumer advocates worry that the system will hurt borrowers and lead to higher rates on loans and credit cards.

 

The Equifax scoring system is known as the ARM Predictor model. It is separate from a credit report and available to lenders and creditors who request it.

 

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