Credit Risk

Experian has enhanced its Experian Connect API platform to offer VantageScore 4.0 for use in rental screening. This addition will enable consumers, property managers, landlords, and rental screening providers to leverage a more modern credit scoring model when evaluating prospective renters. Zillow is among the platforms now leveraging VantageScore 4.0 through Experian’s Connect API platform to support rental screening.

TransUnion (NYSE: TRU) announced a new, lower price of 99 cents per mortgage origination score for VantageScore 4.0, reinforcing its commitment to homebuyer affordability and delivering greater value for mortgage lenders. Drawing on findings from a recent study, TransUnion estimates the new pricing could drive more than $900 million in potential savings for lenders and consumers.

AD Mortgage, a wholesale lender, has released a comprehensive nationwide credit score study, Credit Score vs. Mortgage Cost: How Long It Takes to Improve and How Much It Can Save, State by State, revealing how credit readiness directly impacts homebuying affordability across the United States.

CIC Credit (CIC), a provider of verification and credit services to the mortgage industry, will participate in the FICO® Mortgage Direct License Program, a new initiative from analytics software provider FICO (NYSE: FICO). The program streamlines score access, enabling CIC to provide better FICO® Score pricing to its customers.

Recent patterns in consumer credit risk suggest a growing divide among U.S. consumers, as some demonstrate heightened financial resilience while others face mounting challenges.

Xactus, a fintech and market leader in verification solutions for the mortgage industry, announced that global analytics software leader FICO (NYSE: FICO) has teamed up with Xactus as its first technology partner in FICO’s quest to bring its innovative FICO® Score Mortgage Simulator to market.

The National Consumer Reporting Association (NCRA) addressed industry misconceptions about recent FICO score price increases in mortgage lending.

Consumer credit balances continued to grow across all credit products during the third quarter of 2024, but in many cases, that growth has slowed.

LexisNexis Risk Solutions unveiled the findings of its inaugural Global Consumer Lending Confidence Report. The study, conducted by Datos Insights, reveals that as visibility into consumer risk provided by traditional credit data shifts, financial institutions worldwide are expanding their use of alternative data throughout the consumer lending journey.

Optimal Blue’s March 2024 Originations Market Monitor report, which reveals the average homebuyer credit score has reached 737 — an all time high since the company began tracking this data in January 2018.