Fitch Investors Service is weighing in on the side of credit scoring for mortgage loans.

The rating agency calls a borrower's credit score "a valuable piece of information in the overall evaluation of the likelihood of a mortgagor default."

But, Fitch continues in a recent report, the information should not be used to make or break a loan.

"There is not yet enough statistical information on mortgage credit scoring to allow loans to be approved automatically based only on their scores," the report states.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.