Editorial Board

This Monopoly Is Holding Back the Mortgage Market

Credit scores aren't working the way they should.

January 18, 2018 at 2:00 PM UTC

By The Editorial Board

The Editorial Board publishes the views of the editors across a range of national and global affairs.

But not for everyone.
Photographer: Ty Wright/Bloomberg

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If you apply for a mortgage in the U.S., chances are your credit score will be generated by an algorithm better suited to the economy of the 1990s -- part of an ossified system that could be denying millions of otherwise qualified Americans the opportunity to buy a home.

Regulators are considering an update. What’s really needed is a rethink.