Wednesday, July 28, 2004
Fair Isaac is now a CREDIT BUREAU!
Fair Isaac Launches FICO Score to Help Lenders Grow Presence in Credit-Underserved Markets
“The company has established a fully regulatory-compliant subsidiary, Fair Isaac Credit Services, Inc., to operationally deliver this capability.”
The Fair Isaac credit bureau!
“Fair Isaac has developed a diverse network of information sources for non-traditional credit data to enable it to design and calculate highly predictive credit risk scores for overlooked consumers. Predictive information considered in the formulation of this score include payment performance data on financial activities such as deposit accounts, pay day loans, and product purchase payment plans. Until recently, such information has not been consistently maintained or accessible for commerical risk scoring.”
How do I get my Fair Isaac credit report?
A FICO® Score for Universe Expansion
“It’s based on alternative data sources
The Expansion score evaluates data from multiple non-traditional data sources to provide a complete view of the consumer’s credit risk. Fair Isaac has selected the best commercially available data sources to power the score.”
What EXACTLY are those data sources?
For many years Fair Isaac’s excuse for everything was that they did not control the data in the underlying credit reports.
NOW THEY DO!!!!
50 million consumers are to be scored based on FAIR ISAAC data. I can’t wait to see those FCRA lawsuits!
The new site for the Fair Isaac CRA:
https://www.ficoexpansionscore.com/Content/
“Subscribe
Fair Isaac Credit Services, Inc. offers this service on a subscription basis to qualified lenders. To use the service, you must have a permissible purpose for obtaining consumer credit reports in accordance with the Fair Credit Reporting Act (FCRA), and all applicable federal, state, local laws, statutes and regulations.”
Yup, a full blown CRA, yet I couldn’t find anything to find info on getting my report.
2003 Suit (appealed, Experian filed credit reports on PACER) • Fair Isaac - credit scoring fraudware • (5) Comments • Permalink
