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Fico Collections
AUGUST 16, 2021
It serves as a broad-based, independent standard measure of credit risk. It is relied upon by stakeholders across the entire lending ecosystem – from regulators, investors and boards to consumers, lenders, and brokers – as a baseline metric for assessing credit risk that is fair to both lenders and consumers. .
Titan Consulting
MAY 17, 2020
Rent, home payments, utilities such as gas, water, electric, and even things like cable or other on-time payment history can be used by credit bureaus to create a reliable credit score from which they can underwrite credit. What lenders use alternative credit data to grant credit?
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Titan Consulting
MAY 3, 2020
All three for-profit credit reporting agencies, Experian, Equifax and Transunion compile and report consumer credit and debt payment activity and sell this consumer information to lenders seeking to grant credit. Here’s why: Who Decides Your Credit Score? Key Takeaways. Final Thoughts.
Fico Collections
AUGUST 29, 2022
During the first year of the pandemic, the combination of government stimulus programs such as the CARES Act and payment accommodation programs offered by lenders helped millions of consumers stave off missed payments. FICO® Score at 716, Indicating Improvement in Consumer Credit Behaviors Despite Pandemic. See all Posts.
Troutman Sanders
OCTOBER 30, 2023
The FTC’s Safeguards Rule requires nonbanking financial institutions, such as mortgage brokers, motor vehicle dealers, and payday lenders, to develop, implement, and maintain a comprehensive security program to keep their customers’ information safe. For more information, click here. On October 26, Senator Cynthia M.
Titan Consulting
MAY 10, 2020
The new FICO XD scoring model retrieves information from sources like the National Consumer Telecom and Utilities Exchange to collect data on payments to utility, cell phone service, internet, and cable television providers and uses the payment history data from these and other sources to build a credit score.
Troutman Sanders
MAY 9, 2023
The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam.
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