FICO CEO Will Lansing said some banks are confusing customers by using a different score which he has dubbed Fako; VantageScore, the company behind the alternative scores, says their scoring is used by thousands of lenders for credit decisions and FICO is upset over competition; FICO is the most widely used credit scoring method as trillions worth of loans have been extended using FICO; JP Morgan Chase and Capital One both use VantageScore to help customers stay alerted about their credit health and not necessarily to underwrite loans. Source.
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[Editor’s note: This is a guest post from Avant. Avant is a platinum sponsor and will be in attendance at LendIt...
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[Editor’s note: This is a guest post from John Birge, Chief Credit Officer of Credibility Capital. Previously he spent 14...
Credit scoring company FICO is starting to make some changes to how they view consumers with rising debt and those...
FICO has released a new product to help lenders figure out which consumers are most financially resilient and therefore better...
Consumer awareness of their financial health has never been higher; whether planning to buy a home, car or finance an...
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