Shows
The ScoreThe Impact of AI in FinTechAccording to the World Economic Forum, 85% of financial services organizations are using AI in some capacity. It’s no secret the artificial intelligence ‘arms race’ is impacting virtually every industry, especially financial services. It’s also creating interesting and novel challenges for every industry, both in its application and its usage. It’s often said that technology advances faster than regulation. Is that the case with artificial intelligence, or are the rules of the road keeping pace with innovation? And how should fintech companies approach AI governance to ensure fair outcomes?Tamra Moore is VantageScore’s Deputy Gene...2024-09-0910 min
The ScoreBank of America: VantageScore 4.0 is “Better” for MortgageTo date, nearly all mortgage loans continue to use outdated credit scoring models, though in other loan categories, much newer, more predictive, and inclusive models are most commonly used. But the mortgage industry is advancing. By next year, all mortgage loans backed by Fannie Mae and Freddie Mac will require a VantageScore 4.0 credit score. In advance of this change, Bank of America recently issued an independent research report analyzing the VantageScore 4.0 mortgage data set. Pratik Gupta is the Head of CLO & RMBS Research at Bank of America Securities. Pratik joins The SCORE this week to dis...2024-08-2112 min
The ScoreA $1 Trillion Opportunity?It's been called the “$1 trillion opportunity.” Currently, the housing market is paralyzed. Homeowners are left out of the market due to a lack of inventory or—even worse—can’t access it due to outdated credit scoring models that exclude them. Recent VantageScore research found an estimated $1 trillion of pent-up growth potential in the form of borrowers who have historically been left out of homeownership opportunities due to unfairly restrictive, decades-old scoring models. But that's all changing with the implementation of VantageScore 4.0 for mortgages funded by Fannie Mae and Freddie Mac.Anthony Hutchinson is Senior Vice Presid...2024-07-2317 min
The ScoreIs Consumer Credit Health Proving Resilient?CreditGauge, VantageScore’s monthly analysis of consumer credit health, found that in April 2024, delinquencies declined for a second straight month. To date, consumers are weathering economic pressures fairly well. But is this proof of a climb out of a delinquency-heavy phase, or are household budgets on a bumpy roller coaster ride longer-term?Atif Mirza is Vice President of Digital at VantageScore, where he manages the VantageScore suite of digital tools for lenders – CreditGauge, Inclusion360, and RiskRatio – tools that help lenders expand their footprint in ways that both serve more creditworthy consumers and also boost financial inclusion.Atif...2024-06-0406 min
The Innovators’ Exchange by Oliver WymanSilvio Tavares, President And CEO Of VantageScore, On Financial Inclusion And The Future Of Credit DecisioningIn this episode, Hiten Patel and his co-host Cosimo Schiavone are joined by Silvio Tavares, the CEO of VantageScore, a national credit scoring company. Silvio shares his personal journey and the challenges his family faced as immigrants in the United States. He also discusses the role of VantageScore in the credit scoring industry and the importance of financial inclusion. Silvio highlights the need for innovation and the incorporation of alternative data in credit decisions. He also shares his insights on the future of data usage and the importance of creating value for multiple stakeholders. 2024-04-0841 min
The ScoreConsumer Credit Health in 2024Spending is up! Delinquencies are up? And oh, it's an election year! With the resumption of student loan payments, persistent inflation, and other potential challenges, what can consumers expect in 2024? To be sure, all eyes will be on the economic health of consumers. This week, Susan Fahy joins THE SCORE Podcast to discuss what CreditGauge reveals about Americans’ current credit health. Susan is VantageScore’s EVP and Chief Digital Officer. In addition to spearheading the monthly CreditGauge analysis, Susan also helps keep lenders informed through leading-edge digital tools such as Inclusion360, RiskRatio, and Market...2024-02-1309 min
The ScoreHow Can Financial Inclusion Be Measured?The U.S. economy is, in many ways, the envy of the world, and millions migrate annually to this country to participate and live out the ‘American Dream.’ However, inequitable access to the financial tools that preclude milestone moments, like purchasing a home, can become barriers to the ‘credit invisible’ or those otherwise unaccounted for in the financial services marketplace. So, how can fintech leaders help broaden the tent, and what role does competition play in keeping the doors open to the U.S. financial system for underrepresented communities? Silvio Tavares, President and CEO of VantageSco...2023-11-0616 min
The ScoreNavigating Your Federal Student Loan Repayment PlanThis fall, an estimated 44 million borrowers will stretch their personal budgets once again, adding yet another item to their bottom line – a federal student loan payment. If you don’t know where to start your repayment journey, you’re not alone. Dan Currell, CEO of the Digital Commerce Alliance and Former Deputy Under Secretary and Senior Advisor at the U.S. Department of Education, joins THE SCORE to help borrowers figure out where to start. VantageScore partnered with Dan to create an FAQ titled “39 Answers to Student Loan Questions,” designed to help consumers map out their path to student l...2023-09-2518 min
The ScoreChecking in on the Credit Builders Alliance/VantageScore Financial Inclusion Pilot ProgramA year ago, VantageScore funded a pilot program in partnership with the Credit Builders Alliance aimed at using data and analytics to extend credit counseling and credit scoring information to areas of the United States with large concentrations of lower income consumers. Interested in the results?The latest episode of THE SCORE podcast features Dara Duguay, CEO of Credit Builders Alliance and Joe Lauchlan, a Financial Coach with the International Institute of Metropolitan Detroit. During the podcast they share how they leveraged VantageScore 4.0 in addition to new credit counseling capabilities to improve credit health in a measurable...2023-09-1116 min
The ScoreBROADENING ACCESS TO HOMEOWNERSHIP: VantageScore 4.0 implementation for GSE-funded mortgages and the balance between expanding financial inclusion and risk managementIs there a tradeoff between expanding the pool of potential mortgage eligible consumers and sacrificing risk management? The Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac, has mandated use of VantageScore 4.0 with a 3-year roadmap for implementation. Meanwhile, millions of creditworthy consumers are on the outside of the American Dream of homeownership, looking in. On this week’s episode of The SCORE, we hear from Tony Hutchinson, Senior Vice President of Industry and Government Relations at VantageScore. Tony explains where we are on the road to VantageScore 4.0 implementation for GSE-funded mortgages, the...2023-08-1813 min
The ScoreCredit Score Migration: What Lenders Need to KnowIt's maybe the least understood aspect of credit scoring: a 700 score today will represent a totally different risk during the next credit cycle. And as macro-economic issues change, so does the risk that any score represents. During the pandemic, consumer credit health was positively impacted by various factors such as government stimulus payments, suspended student loan obligations, and resulted in increased personal savings rates. As a result, and logically, scores rose.The economy is much different now and many consumers have struggled with their debt obligations. The looming resumption of student loan payments further stands t...2023-07-3113 min
The ScoreHow is VantageScore providing lenders with transparency in a digital world?Atif Mirza, Vice President of Digital at VantageScore joins The SCORE to discuss the post-pandemic shift to digital in the financial services sector and the tools VantageScore offers lenders – namely CreditGauge, Inclusion360, and RiskRatio – that help expand the lendable pool in a way that positively impacts financial outcomes in underserved populations.Atif explains how lenders and other market participants leverage new tools and insights that help market participants understand what’s happening with consumers and their credit health, how delinquency rates are trending, and what adjustments are needed to optimize loan portfolios.2023-07-1709 min
The ScoreHow Will the End of the Federal Student Loan Forbearance Period Affect Consumers?Over the course of the next few months, the resumption of student loan payments is likely to change household budgets for over 40 million Americans – one of the most significant changes to their personal finances and since the start of the pandemic. Data scientists Dr. Andrada I. Pacheco and Ritika Sinha recently joined THE SCORE to discuss VantageScore’s perspectives and insights on how consumer behavior (and by extension, consumer credit scores) might shift in response to the end of the student loan forbearance period. Dr. Andrada I. Pacheco is Director of Data Sciences at VantageScore. Dr. Pa...2023-06-2010 min
The ScoreConsumer Credit Health Remains Relatively Stable. So Why Are Lenders Pulling Back?Hear from Susan Fahy, Executive Vice President and Chief Digital Officer at VantageScore about how consumers and lenders are responding to the current economic environment.Susan spoke with THE SCORE podcast about what CreditGauge powered by VantageScore™ is telling us about how consumer credit health is impacted by current economic pressures and how stakeholders can use the tool to instantly get access to a comprehensive database of consumer credit trends.2023-04-0606 min
The ScoreIs inflation and the rising cost of living causing consumers to miss payments?Hear from Susan Fahy, Executive Vice President and Chief Digital Officer at VantageScore about the latest in how consumers are handling their credit accounts.Susan spoke with THE SCORE about what CreditGauge powered by VantageScore™ is telling us about the economy and how stakeholders can use the tool to instantly get access to a comprehensive database of consumer credit trends.2023-02-0809 min
Creating Wealth Real Estate Investing with Jason Hartman1955: FICO Vs. Vantagescore, Building Your Credit Score, Empowered Investor Pro CruiseToday Jason talks about the FICO versus the VantageScore system and how we can use credit to our advantage and how we can improve our correct score! So many factors play into these but it is imperative you have a basic understanding of these 2 systems; especially when dealing with your mortgages. Rooms are going FAST! Book your ticket today! Go to EmpoweredInvestor.com/cruise. Everything is subject to availability. When you do, you also get a one on one coaching with Jason! So join the Empowered Investor Pro - Member Retreat, a Western Caribbean Cruise with Jason...2023-02-0132 min
The ScoreIs alternative data really a game changer for credit scores?Is alternative data really a game changer for credit scores? The answer…is yes.Hear from Jung Choi, Senior Research Associate at the Urban Institute about research that uncovers the impact that including rent data in credit scores has for underserved borrowers.Jung spoke to THE SCORE podcast about her research and how including VantageScore in mortgage applications will help solve for an increasingly growing racial homeownership gap.Follow us on social media!linkedin.com/company/vantagescoretwitter.com/vantagescorefb.com/vantagescoreinstagram.com/vantagescoreyoutube.com/va...2022-12-1309 min
Credit & CoffeeFHFA Approves VantageScore 4.0 for Use in GSE Mortgage Lending2022-12-0503 min
The ScoreAre consumers going to spend as they did last year this holiday season?What’s “in store” for the holiday shopping season and are consumers starting to demonstrate riskier credit behaviors?THE SCORE podcast caught up with Tom Aliff, who leads the Risk Consulting and Advisory practice for Equifax’s US division. Tom shared insights on how consumers are spending so far this holiday shopping season and how lenders can track credit risk while the economy is showing some mixed signals. Plus, some fresh credit insights from CreditGauge Powered by VantageScore™!Follow us on social media!linkedin.com/company/vantagescoretwitter.com/vantagescorefb.com/vantagesco...2022-11-2810 min
Mortgage Brokers AdvisorsFHFA Approves FICO 10T and VantageScore 4.0 Credit ModelsFHFA Approves FICO 10T and VantageScore 4.0 Credit Models New Credit Models Benefit Borrowers & Enterprises The Federal Housing Finance Agency (FHFA) announced October 24, 2022 validation of both the FICO 10T credit score model and the VantageScore 4.0 credit score include rent, utilities and telecom payments, delivering a more accurate and inclusive credit model for use by Fannie Mae and Freddie Mac. The FHFA expects implementation will be a multiyear process, and lenders will be required to deliver both scores with each loan sold to Fannie Mae and Freddie Mac.“While implementing the newer credit score...2022-11-0402 min
The ScoreCEO’s Perspective: What’s in the pipeline for VantageScore?Hear from Silvio Tavares, President & CEO of VantageScore about why the company has dramatically improved its digital engagement and how data innovation will drive future growth in the adoption of VantageScore credit scores.Silvio shared with THE SCORE how recent tools and data resources like RiskRatio and CreditGauge – Powered by VantageScore™ will help lenders, capital markets and other stakeholders track the latest in consumer credit health trends in an increasingly uncertain economy.Follow us on social media!linkedin.com/company/vantagescoretwitter.com/vantagescorefb.com/vantagescoreinstagram.com/vantagescoreyout...2022-11-0211 min
The ScoreWhat does a collaborative financial inclusion strategy look like?Hear from Kate Griffin, Project Director for Building Inclusive Financial Systems at the ASPEN Institute, which is a powerhouse educational and policy studies organization based in Washington, DC. Kate joined THE SCORE to discuss the potential launch of a proposed National Financial Inclusion Commission in the U.S. to create a national financial inclusion strategy.But who should lead that effort and what organizations should be involved? Follow us on social media!linkedin.com/company/vantagescoretwitter.com/vantagescorefb.com/vantagescoreinstagram.com/vantagescoreyoutube.com/vantagescore2022-10-1211 min