FICO Score 10 T Adoption Reaches Significant Milestone by Serving $300 Billion in Eligible Mortgage Portfolios - Seite 2

Zeibert, along with Jason Stenger, chief operating officer of Movement Mortgage, were featured speakers at FICO World on Tuesday, April 16, discussing how the latest scoring models can increase liquidity for lenders and help more Americans realize their dreams of homeownership.

As pointed out by Stenger, FICO Score 10 T can provide greater precision in making lending decisions. The model can be used by lenders to better manage credit risk and default rates when extending competitive credit offers to consumers. FICO Score 10 T can enable an increase in mortgage originations of up to 5 percent (without taking on additional credit risk) and reduce default risk and losses by up to 17 percent. The increased predictive power can also help lenders project cash flow more accurately.

FICO is committed to assisting mortgage industry participants looking to transition to its most current model, FICO Score 10 T. The FICO Score Migration Resource Center provides a detailed guide to support organizations through their score transition with key planning steps and activities, in addition to implementation best practices.

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FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency.

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