Christy Moss

By KIMBERLEY HAAS Building credit is important for people who want to move into homeownership but some industry leaders are working to show lenders that there are alternatives to the traditional FICO score. A recent survey conducted on behalf of the technology company FormFree shows that of the respondents, 40% said that insufficient credit scores are one of the biggest barriers to homeownership. FICO scores are used by a majority of top lenders for their credit risk assessment needs. While 49% of respondents said their credit score should be considered during the home loan process, 53% would prefer that their ability to pay bills on time be factored in. FormFree released its alternative to the traditional credit score model in…