Fico Collections
AUGUST 16, 2021
“Amounts owed” comprises some 30% of the overall FICO® Score calculation and is heavily weighted towards credit card balances and utilization so the observed reduction in credit card debt is helping to drive scores upwards. Fewer consumers are actively seeking credit. There has been a 12.1% The Other Side of the Coin.
Collection Industry News
FEBRUARY 22, 2021
TransUnion ( NYSE: TRU ) confirmed that consumer credit activity keeps rising from the COVID-19 pandemic lows, but some areas like automobile loans (subprime) performance have lagged. Matt Komos , VP of Research and Consulting at TransUnion, stated: “On the surface, the consumer credit market is performing quite well.
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Fico Collections
AUGUST 29, 2022
For many of these consumers, this decrease has likely been driven by the inverse of the trends that drove the national average FICO® Score up during the first year of the pandemic: a slow-down in economic growth , surging inflation, a decrease in household saving rates and ramping down of government stimulus programs. Ethan has a B.S.
Titan Consulting
MAY 17, 2020
As lenders acknowledge the need for alternative credit data, companies are finding innovative ways to track non-traditional payments without requiring consumers to borrow money or use a credit card. Rental agencies and alternative credit providers use the data to screen applicants and establish consumer credit scores.
Titan Consulting
MAY 10, 2020
In the last 30 years, the Fair Isaac and Company, better known as FICO, changed the way the lenders evaluate consumer applications. The FICO score, introduced in 1989, uses consumer credit payment history, to create a proprietary three-digit number predicting future repayment risk. Which Lenders Use the FICO XD.
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