Articles Tagged with ''Experian''

Government watchdog calls for CFPB, FTC to have more authority over credit reporting agencies

GAO wants regulators to have more power over Equifax, Experian, Transunion
Equifax may be expecting sanctions from both the Consumer Financial Protection Bureau and the Federal Trade Commission over the credit reporting agency’s massive data breach that exposed the personal information of 148 million U.S. consumers to hackers, but one prominent government watchdog is calling for those agencies to have even more authority over Equifax and the like.
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Experian offering potentially higher credit scores in exchange for access to people’s bank accounts

Will use utility, cell phone payments to calculate FICO score
Experian wants access to consumers’ bank accounts as part of an effort to help people boost their credit scores. Experian announced Tuesday that it is launching a new program called “Experian Boost.” Through the program, consumers grant access to their bank accounts to allow Experian to use utility and telecommunications payments in the calculation of their credit score.
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New FICO model could boost credit scores for millions

New model taps into consumer banking data
Experian, FICO and Finicity announced a new credit scoring model that could expand credit access for millions of Americans. The new model, UltraFICO, would look at more than just information reported to the three credit-reporting firms. It would go deeper still and look at the consumer’s banking data, including their checking and savings accounts.
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From HW Magazine

3 ways lenders can service borrowers with a good or prime credit score

Steps to provide loans that work for both lenders and borrowers
Today’s mortgage brokers and lenders are looking for higher credit scores, leaving worthy borrowers with fair credit scores struggling to find reasonable rates on mortgages. To correct this issue, lenders must adjust their approach and start providing reasonable loans to qualified buyers. Here's how.
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Consumers can now freeze their credit for free

Credit reporting agencies can no longer charge for credit freezes
It hopefully just got a little more difficult for scammers to abuse someone’s credit information, because, as of Sept. 21, 2018, consumers can now freeze their credit at all three of the major credit reporting agencies, for free. Consider this one the “Equifax rule.”
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From HW Magazine

2018 Women of Influence: Angela Granger

Vice President Analytics of Experian
At Experian, Angela Granger has leveraged the latest statistical techniques in predictive modeling, data intelligence and business intelligence to maximize clients’ return on investment. She plays an instrumental role in analytics research and development, having participated in the design and commercial introduction of several advanced analytics products and services aimed at helping clients predict customer behavior and manage a wide range of decisions related to repayment of debt, account utilization, default and fraud prevention.
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FHFA on credit score delivery: forgotten lessons

Multiple versions of a credit model may lead to added cost and complexity
Recently, FHFA posted a Request for Input asking for opinions concerning options for changing the delivery of credit scores to the GSEs, underwriters and investors. FHFA is considering various options to change the current system. Any such choice, in the end, is the outcome of a detailed cost-benefit analysis, but while FHFA acknowledges this, they fall short of providing the necessary framework for reaching an informed conclusion.
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Keep credit scores independent and reliable for the mortgage market

What would a credit-bureau controlled credit score look like?
[Expert commentary] Tucked into the U.S. Senate’s recently passed financial regulatory reform bill is a provision that has nothing to do with regulatory relief for community banks, freeing up capital in financial institutions, or enhancing consumer protections. FICO explains what it thinks a credit-bureau generated credit score would mean for mortgage finance.
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Experian launches product to give lenders unprecedented insight into consumer behavior

Gives historical insight across all three bureaus
Experian launched its new product which will give lenders an unprecedented view into consumer behavior over time across all three credit bureaus. The company explained that while traditional credit gives lenders a glimpse into credit during a single moment of time, Experian’s product will add a deeper layer of insight.
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