An agreement has been reached to create a new credit scoring model with deeper insight into consumer credit risk.
The technology promises to provide “a sharper, predictive view of the consumer” by combining FICO’s analytics and decision management technology with a recently unveiled credit report from CoreLogic Credco, according to an announcement Monday.
Last week, CoreLogic issued a news release about its CoreScore Credit Report. The report utilizes CoreLogic’s unique data.
The agreement to combine the CoreScore offering with the FICO 8 Mortgage score promises “to provide lenders increased visibility into borrower credit behavior and future credit risk.”
CoreLogic’s Greg Pelling noted in the statement that the solution provides mortgage firms with actionable consumer data to create consumer credit risk insights that help them avoid losses.
“Future solutions will build on the first, leveraging application data to deliver additional loan level insight and support more intelligent and consistent lending decisions,” the press release said.
