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Do you have the right consumer reports to score credit invisibles?

Feb 09, 2017 Walt Wojciechowski

Most millennials are credit invisible, but do pay rent, and have long alternative credit histories.

There are about 26 million credit invisible consumers throughout the U.S., according to a report from the Consumer Financial Protection Bureau. While these individuals represent an untapped market, engaging them in the lending process is difficult...


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How alternative credit data can help enterprises achieve fair lending

Jan 30, 2017 Walt Wojciechowski

The 2008 recession put financial institutions under the microscope. Consumers are quick to judge FIs for both real and perceived transgressions, and organizations such as the Consumer Financial Protection Bureau aren't afraid to pursue companies...


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How to manage financial risk when engaging credit invisibles

Jan 30, 2017 Walt Wojciechowski

Americans with thin-file and no-file credit reports represent a huge business opportunity for lenders. According to the Consumer Financial Protection Bureau, approximately 26 million people in the U.S. are "credit invisible," meaning they don't have...


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3 reasons why you shouldn't rely on traditional credit data alone

Jan 13, 2017 Walt Wojciechowski

Loan officers require comprehensive financial information when assessing consumers' ability to pay back loans. However, they rarely collect all the data necessary to build a solid understanding of whether a person is creditworthy.Traditional credit...


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Is it time for GSEs to use a different credit scoring model?

Jan 04, 2017 Walt Wojciechowski

Which scores do Freddie Mac and Fannie Mae use to assess mortgages?

Fannie Mae and Freddie Mac have been using credit scoring models from Equifax, TransUnion and Experian when assessing mortgages for some time. However, those models, all of which are based on the FICO score, prevent approximately 45 million Americans...


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