Can alternative credit scoring help individuals qualify for lower interest rates on loans?

Oct 16, 2023 ... Including this alternative data into scoring models will expand homeownership opportunities for creditworthy borrowers and make scores more ... While using alternative credit scoring is not a substitute for bad credit, it can be a vehicle to offer more affordable loans than sub-prime programs offer. Jan 26, 2023 ... Alternative credit scoring models incorporate alternative credit data* that isn't typically found on consumer credit reports. These scores aren' ... Mar 4, 2025 ... Alternative credit scoring is a method of assessing potential borrowers using non-traditional data sources. May 21, 2024 ... This study explores the potential of utilizing alternative data sources to enhance the accuracy of credit scoring models. Feb 8, 2024 ... A consumer credit score is a numeric metric used by lenders to determine the likelihood of default on a consumer loan. Consumer scores are ... Oct 26, 2022 ... FHFA began to explore new models in 2014 and submitted a request for information on alternative credit scores in 2017. In 2018, Congress ... Jun 28, 2023 ... Several fintechs leverage alternative data such as rent payments to help consumers improve their credit scores. For example, RentPlus and ... Jun 5, 2024 ... We find that incorporating retail data increases approval rates for individuals without a credit history, from 15% to between 31% and 47%. Oct 31, 2016 ... This is why the technical debate over alternative credit-scoring models in housing finance is both important and politically fraught.