FICO Archives -

VantageScore Can Help Expand Homeownership

WHAT CREDIT SCORE COMPETITION MEANS FOR YOUR MORTGAGE LENDING EXPERIENCE Credit score competition is coming to the mortgage industry but what does this mean for you, your family, and your friends? It means we now have the power and potential to expand sustainable homeownership opportunities to millions of Americans currently disadvantaged by traditional credit scoring models. How will it affect me? The model competition will result in more accurate, reliable, inclusive, and updated mortgage credit […]

The Unscorable Problem Gets Worse

Has the plight of the conventionally unscorable worsened? Unfortunately, based on a recent VantageScore analysis, it has been exacerbated. The overall population in America has increased dramatically, even though the last decade has seen the slowest growth rate of all times. As the overall population has increased, so has the number of consumers who are not scoreable when conventional credit scoring models are used. Indeed, according to the Consumer Financial Protection Bureau, about 1 in […]