fico: New FICO Score Model - Are Your Customers Ready?
- 02/02/20 08:39 PM
FICO announced new scoring models in January 2020. If you’re not familiar with the changes, it’s a great time to have a conversation with your trusted lender(s). This will have an impact on people’s ability to get mortgages and loans in general.
As I heard it discussed on a radio program today, lenders have traditionally used a credit score that behaves like a snapshot. The new scoring models will instead allow lenders to view customers’ credit worthiness based on the trends of the customer. This should help to more clearly assess how well a customer utilizes the credit they already have and … (0 comments)
FICO announced new scoring models in January 2020. If you’re not familiar with the changes, it’s a great time to have a conversation with your trusted lender(s). This will have an impact on people’s ability to get mortgages and loans in general.
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