Fico

Pizzeria il Fico Rating: two stars Rating is based on food, service and ambience, with price taken into account in relation to quality. ****: Outstanding on every level ***: Excellent **: Very good *: Good No star: Poor to satisfactory Location 310 S. Robertson Blvd. (At Third Street), Los Angeles, (310) 271-3426, http://www.pizzeriailfico.com Price Antipasti or "capricci," $8 to $18; salads, $10 to $12; pizza, $16 to $18; pasta, $15 to $18; desserts, $8 to $10. Corkage fee, waived with purchase of one bottle of wine; otherwise, $35 per bottle.

WASHINGTON - With generous new guidelines from Fannie Mae and Freddie Mac likely to stimulate large numbers of short sales by underwater homeowners, what effect will the sales have on the sellers' credit scores? It's a crucial question, because short sales typically cause FICO scores to plummet, sometimes 150 points or more. This, in turn, complicates sellers' credit capabilities for years and makes additional borrowing - whether for auto loans, credit cards or new mortgages - tougher and more expensive.

Monday nights at Vincenti, the Brentwood Italian's chef (and now partner) Nicola Mastronardi turns out some terrific pizzas in addition to the regular menu. I remember some of his pies with great fondness. But Mastronardi has branched out to open the smart Pizzeria il Fico on Robertson Boulevard. That's good news for fans who now don't have to wait for Mondays but can slip in at any lunch or dinner for "La Diavola," spiked with spicy housemade pork sausage, or a pizza topped with grilled chopped vegetables.

WASHINGTON — Do you ever get the feeling that your credit score doesn't adequately portray your true risk as an applicant for a home mortgage? If your FICO score is a subpar 690 but you know that you are a solid candidate for a loan, do you think that lenders' heavy dependence on credit scores is unfair to you as an individual? You've got some company. Digital Risk, a mortgage analytics firm, is mounting an unusual frontal assault on one of the lending industry's sacred cows.

Should we have to deal with a corrupted measuring tool by learning how to "trick it" or should we try to fix the broken machine? In "Knowing the Score on Credit Can Help" (Personal Finance, May 25), Kathy M. Kristof makes a good effort in trying to help citizens cope when dealing with FICO scores. We're told not to pay off small old accounts with balances, don't cancel an old unused credit card, and many more practices that a conscientious person with a good credit rating would normally do. Why shouldn't we do this?

Savings and loans are teetering. A record number are failing. The carnage strains the already ailing Federal Savings & Loan Insurance Corp., the government agency that insures S&L deposits. Not a happy story. But there is a way you can assist the troubled industry--and lock in a nice yield to boot. You can buy a new type of security called FICO zero-coupon bonds. Proceeds from the bonds, first issued about a month ago and primarily sold through major brokers, go to FSLIC.

Battered by unemployment and tighter lending standards, the credit scores of millions of Americans are sinking to new lows. About 25.5% of consumers — or 43.4 million people — had credit scores below 600 in April, according to FICO Inc. Historically, only about 15% of consumers — or 25.5 million — have had scores below that level, FICO said. Consumers with low credit scores will have increased difficulty obtaining credit cards and other loans, said Christian deRitis, director of credit analytics at Moody's Analytics.

Dear Liz: My husband and I are nearing 60. The company where we both have worked for over 30 years recently merged with another firm. The money in our retirement accounts, which totals several hundred thousand dollars, will be distributed to us, and we need to figure out how to manage it. We took your advice to interview several fee-only financial planners, and all of them are pushing for wealth management. They would manage the money in exchange for a percentage of the assets.

Dear Liz: I've followed your advice on building credit and now, at 20, have credit scores around 730. I recently applied for and received an American Express gold card. But I've read that charge cards can hurt your credit score, or at least not help it. Should I use this card? Answer: Charge cards require you to pay your balance in full every month, unlike credit cards that allow you to pay only a fraction of what you owe. You typically need good credit scores to qualify for a charge card, and it can be an excellent way to manage your finances without incurring debt.

WASHINGTON - With generous new guidelines from Fannie Mae and Freddie Mac likely to stimulate large numbers of short sales by underwater homeowners, what effect will the sales have on the sellers' credit scores? It's a crucial question, because short sales typically cause FICO scores to plummet, sometimes 150 points or more. This, in turn, complicates sellers' credit capabilities for years and makes additional borrowing - whether for auto loans, credit cards or new mortgages - tougher and more expensive.

WASHINGTON — In a marketplace where lenders are demanding record-high FICO credit scores — Fannie Mae and Freddie Mac are averaging around 760 on approved mortgages this year — are you a little fuzzy about what can push your scores up or down? Take inquiries, which Fair Isaac Corp., the developer of the score methodology dominant in the mortgage field, says are among the most widely misunderstood components of its system. Do multiple inquiries — requests by lenders and others to pull your national credit bureau reports — knock your score down?

Automakers posted strong sales gains in the U.S. last month as pent-up demand and loosening credit brought customers into the market after spending the recession on the sidelines, pointing to a continuing recovery for the auto industry in 2012.  Volkswagen reported 38,657 units sold in May, a 28.4% increase over the same period last year.  Chrysler posted sales of 150,041 units, a 30% increase from May last year, driven by gains in the...

Dear Liz : I had credit scores over 800 with no late payments ever. Unfortunately, a medical issue required me to charge $24,500 to a credit card. That led to a bankruptcy, which was discharged in July 2011. My scores dropped to 672, and they're currently around 680. I'm paying two unsecured credit cards in full each month plus an auto loan that was reaffirmed in bankruptcy. I would like to continue rehabilitating my scores by applying for another loan. When a company requests my credit scores, does it also see my bankruptcy, and would that prevent me from getting credit?

WASHINGTON — How do you stack up as a potential mortgage candidate in this year's increasingly tough underwriting environment? Do you have the right stuff — credit score, debt-to-income ratio, equity or down payment — to get you through the minefield? A new statistical analysis, based on a large sample of all mortgage applications approved and denied in recent months, offers valuable benchmarks for anyone thinking about financing a home purchase or refinancing an existing loan.

Dear Liz: My husband and I are nearing 60. The company where we both have worked for over 30 years recently merged with another firm. The money in our retirement accounts, which totals several hundred thousand dollars, will be distributed to us, and we need to figure out how to manage it. We took your advice to interview several fee-only financial planners, and all of them are pushing for wealth management. They would manage the money in exchange for a percentage of the assets.

Do you have a big mortgage and good credit scores but not much equity — maybe you're even underwater? Do you see little chance that your home's market value will improve a lot during the coming three to seven years? If you answered yes to both questions — and thousands of homeowners across the country could do so — new research suggests that you are in a category that lenders need to worry about most: prime jumbo borrowers who once were thought to be among the safest bets, but who now are the most likely to opt for a strategic default and walk away from their homes.

Dear Liz: I have a terrible habit. I've been clean and sober for 24 years now, but I'm a gambler. I'm in debt over $100,000. Yes, it's bad, but it used to be worse: I owed $204,000 to banks, loan sharks, family members, you name it. In the last seven years I've been able to cut the debt in half, but when I'm done paying off the debt I'll be 62 with no savings and no 401(k) plan. I'll get a pension from my work of about $3,400 a month and $1,400 from Social Security. I'm afraid $4,800 a month will not be enough for me. Is there anything I could do now to make things better?

Do you have a big mortgage and good credit scores but not much equity — maybe you're even underwater? Do you see little chance that your home's market value will improve a lot during the coming three to seven years? If you answered yes to both questions — and thousands of homeowners across the country could do so — new research suggests that you are in a category that lenders need to worry about most: prime jumbo borrowers who once were thought to be among the safest bets, but who now are the most likely to opt for a strategic default and walk away from their homes.

Many consumers applying for a mortgage are going to start sharing more personal information with lenders next year, like it or not. FICO scores, the industry standard for determining credit risk in mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration, largely have been based on a person's credit history. But in an attempt to develop a more well-rounded picture of a person's finances beyond credit, tools are being developed to help the lending industry dig deeper.

Pizzeria il Fico Rating: two stars Rating is based on food, service and ambience, with price taken into account in relation to quality. ****: Outstanding on every level ***: Excellent **: Very good *: Good No star: Poor to satisfactory Location 310 S. Robertson Blvd. (At Third Street), Los Angeles, (310) 271-3426, http://www.pizzeriailfico.com Price Antipasti or "capricci," $8 to $18; salads, $10 to $12; pizza, $16 to $18; pasta, $15 to $18; desserts, $8 to $10. Corkage fee, waived with purchase of one bottle of wine; otherwise, $35 per bottle.