Items Tagged with 'FICO'

ARTICLES

  • 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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    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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  • VantageScore: Director Watt, don’t waste this opportunity

    Mel Watt, the director of the FHFA, has a decision to make
    [Expert Commentary] As regulator and conservator of the GSEs, Mel Watt, the director of the FHFA, has a decision to make. He could open the GSEs’ credit score requirements to include other credit scoring models– broadening access to mainstream mortgage financing without lowering standards and in the process eliminating the scoring monopoly created by the GSEs.
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