“FICO scores have been around since the 1950s, but they didn’t become a major factor in mortgage lending until 1995, when Fannie Mae and Freddie Mac began recommending their use to help determine a mortgage borrower’s creditworthiness.” – Chicago Tribune
“First general-purpose FICO score debuts–BEACON at Equifax. (1989)” – FICO score company Fair Isaac
Other myths, urban legends and misinformation