In this roundtable discussion, Michael Crockett (COO, Xactus), Amber Christman (Director of Business Development), Alyson Finn (Senior Manager) - FICO’s Mortgage and Capital Markets division - and Lance Braun (Scores Marketing), discuss the pathway to FICO Score 10 T migration and the myriad benefits lenders and portfolio managers will realize leveraging trended data incorporated in FICO’s latest and most predictive score that also preserves the proven and trusted minimum FICO Score criteria.
For additional detailed information about FICO Score 10 T:
Ready to migrate? Get the FICO Score 10 T migration guide
In part one of this two-part episode, FICO® Score Industry Insights Podcast host Lance Braun (FICO Score, Marketing) and guest Keon Haley (FICO Score, Product Management) discuss the FICO® Score A Better FutureTM financial literacy program – an ongoing series of free educational events to help Americans learn about credit scores and other relevant financial tools. Score A Better Future focuses on helping consumers better understand credit scoring, dispelling myths about how FICO® Scores are calculated, while providing free, one-on-one counseling from certified not-for-profit counselors tailored to their individual financial health and goals.Having a deeper understanding of credit, FICO Scores, and how lending works can help consumers make better credit-related decisions and potentially save thousands of dollars in interest rates and fees.
The program has already shown to help empower participants:According to our event attendee survey, 82% said that the Score A Better FutureTM events were very useful for helping them better understand how to achieve their financial goals.And 94% agreed that the event gave them an improved understanding of tools they needed to manage their finances better in the future.Want to learn more about credit scores? No worries! You can test your FICO® Score knowledge by playing with our Credit Galaxy[LS1] game or visit the credit education section of myFICO for more information. We encourage you to engage, share content, and help us spread the word about the importance of financial and credit education.
[LS1]Updated the link
In part two of this two-part episode, FICO® Score Industry Insights Podcasthost Lance Braun (FICO Score, Marketing) and guest Keon Haley (FICO Score, Product Management) discuss the FICO® Score A Better FutureTM Fundamentals financial literacy program – important and necessary curriculum specifically created to help high school and college-age students understand the basics of financial literacy, credit scores and learning about relevant financial tools available to ensure a secure financial future. In an economic climate where debt levels are rapidly increasing, the FICO® Score A Better Future program focuses on helping consumers better understand credit scoring, dispelling myths about how FICO® Scores are calculated, while providing free, one-on-one counseling from certified not-for-profit counselors tailored to their individual financial health and goals.Having a deeper understanding of credit, FICO Scores, and how lending works can help consumers make better credit-related decisions and potentially save thousands of dollars in interest rates and fees.
The program has already shown to help empower participants: According to our event attendee survey, 82%said that the Score A Better FutureTM events were very useful for helping them better understand how to achieve their financial goals.94% agreed that the event gave them an improved understanding of tools they needed to manage their finances better in the future.Want to learn more about credit scores? No worries! You can test your FICO® Score knowledge by playing with our Credit Galaxy game or visit the credit education section of myFICO for more information. We encourage you to engage, share content, and help us spread the word about the importance of financial and credit education.
Guest Joe Zeibert (FICO Score, Vice President, Mortgage Products and Solutions) and Host Lance Braun (FICO Score, Marketing) discuss the FHFA’s validation and approval of FICO Score 10 T for use by Fannie Mae and Freddie Mac, the two government-sponsored enterprises (GSEs) that guarantee most of the mortgages in the US.
In addition, they discuss how FICO Score 10 T integrates trended credit data, illustrating FICO's commitment to continual innovation to address market and data advancements; by leveraging FICO's demonstrated scoring expertise, FICO Score 10 T offers more predictive consumer credit scoring risk management leveraging recent data. Last, they review the top 10 reasons why lending institutions can benefit from migrating to FICO Score 10 T now.
For additional detailed information about FICO Score 10 T:
Host Lance Braun (FICO Score, Marketing) and guest David Binder (FICO Score, Product Management) discuss how to assess latent credit card portfolio credit risk as a function of consumer resilience, leveraging the new FICO® Resilience Index.
A credit score predicts a borrower’s likelihood of default based on the borrower’s past and present credit performance.* On the other hand, determining a borrower's resilience during periods of economic stress has historically been a challenge. How can lenders and portfolio managers have deeper insights about borrower behavior in the event of a severe economic downturn? The FICO® Resilience Index (FRI), a new analytic tool, identifies the incremental risk that a consumer will default due to economic stress in the future.
Host Lance Braun (FICO Score, Marketing), discusses consumer credit risk and resilience, as well as the background, development and applications of the FICO® Resilience Index with guest David Binder (FICO Score, Product Management)
