New Credit Score Based on Rent, Utility Payments

Fair Isaac has launched the FICO Expansion Score to help prospective borrowers with minimal credit histories obtain loans and credit scores.
By: Joan Goldwasser: REALTOR® Magazine Online
The Expansion score gauges a borrower's creditworthiness using timely utilities and rent payments and clean checking accounts, among other factors.

While car dealers and credit-card companies have already embraced the new scoring model, mortgage lenders are unlikely to do so unless Fannie Mae and Freddie Mac purchase the resulting loans.