Why Independence Matters
FICO is the independent standard in credit scoring, trusted by lenders and securitization investors for decades.
FICO is an independent data analytics company. We are not a credit bureau, and we are not owned by the three major credit bureaus -- Equifax, Experian and TransUnion. We also don’t compile consumers’ credit data.
Founded in 1956, FICO introduced analytic solutions such as credit scoring that have made credit more widely available, not just in the United States but around the world.
FICO’s role in the lending system is to harness the credit bureaus’ data to produce FICO® Scores, which are predictive of a consumer’s credit risk. Today, FICO is also responsibly using new, alternative data sources outside of the credit bureaus to expand access to credit for more and more Americans.
That’s why the FICO Score is the industry standard for credit scores. Because it is trusted to be predictive, independent and reliable.
Credit Scoring Myths
Independent Credit Scores or Consolidated Credit Bureau Power
The Federal Housing Finance Authority (FHFA) is exploring alternative credit scores for conforming mortgages. The problem is the only alternative score being considered is VantageScore, and it’s owned by the three major credit bureaus—Equifax, Experian and TransUnion. Introducing VantageScore into the system would not create competition, it would consolidate...
Credit Bureau Market Power
Don't be fooled. VantageScore is not a start-up disrupter. It is owned and operated by the three credit bureaus - Equifax, Experian, and TransUnion - which together control the credit reporting system and far outweigh FICO in terms of market capitlization. FICO is the only independent check in the system. The FICO® Score is the industry standard for credit scores because it is trusted by lenders to be predictive, independent and reliable.
What the Market is Saying
Articles & Resources
What Do Potential GSE Changes Mean for FICO?
DS News spoke with Joanne Gaskin, Senior Director, Scores and Analytics at FICO, about FICO’s methods, VantageScore, and what opening up the Enterprises’ credit standards would mean for mortgage and housing.
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