Items Tagged with 'FICO'

ARTICLES

  • Jim Wehmann explains the impact UltraFICO Score will have on consumers

    FICO partnered with Experian and Finicity to provide borrowers further access to credit
    FICO, Experian and Finicity announced the launch of a new credit score, the UltraFICO Score. FICO partnered with Experian and Finicity on the new score to help lenders safely provide further access to credit or credit potentially at better terms to consumers with limited credit history or who had previous financial distress. With distribution from Experian and new aggregated data from Finicity, the UltraFICO Score improves access to credit by including consumer-permissioned data. The new score may impact approximately 15 million consumers who currently do not have a FICO Score.
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  • FICO: Student debt creates a pull on credit scores

    Practices of consumers who see an increase in credit score
    In today’s competitive housing market, there are many factors that help determine whether a person is ready to buy – rather than rent – their next home. To better understand the profile of individuals who are taking the next step in their financial journey, FICO researched how previous financial milestones impact the readiness to open a mortgage among Millennials.
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  • Will new FICO model be key to increasing homeownership?

    FICO executives share vision, capabilities of UltraFICO
    FICO announced its new credit score model earlier this week, but will it revolutionize the lending industry, or fall through the cracks? While time may be the only true way to tell the answer to that question, HousingWire spoke to FICO executives in order to determine the vision and capabilities of the new model, UltraFICO.
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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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  • Executive Conversation: Jim Wehmann on FICO's latest credit score innovations

    FICO leverages a wide range of new data sets to improve financial inclusion
    "FICO Score XD for the U.S. is part of our global financial inclusion initiative where we are working in more than 25 countries around the world, to facilitate credit access for about 1 billion people," Jim Wehman, executive vice president of FICO Scores, said. "We are learning a lot from the work we’re doing outside the U.S. and now have access to different types of data such as mobile device data, which could be very impactful."
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  • FICO, VantageScore stand against FHFA’s delay of new credit score model

    Brings confusion, disappointment to mortgage market
    The FHFA announced Monday it is postponing its search for alternative credit scoring models, but both FICO and VantageScore expressed disappointment over the agency’s decision. And this delay may have created more questions than answers as credit scoring companies are left wondering: Who will really come out on top?
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  • FHFA shelves search for new Fannie, Freddie credit score model

    FICO wins… for now
    FICO and its competitor, VantageScore, have been held in suspense to see which credit score model, if any, the FHFA will choose to use going forward. But now, the agency announced it is postponing its decision and will instead be shifting its focus to implementing the recently passed Economic Growth, Regulatory Relief and Consumer Protection Act.
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  • Experts surprised by Millennial credit scores

    Vary significantly from city to city
    Millennial credit scores vary significantly from one city to the next, and a deeper dive into the FICO scores shows surprising results. But while experts at Ellie Mae were surprised by the Millennial FICO scores, they soon learned the reason for the phenomenon.
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