What are the best practices for developing and deploying alternative credit scoring models?

Jul 9, 2024 ... ... can now pledge mortgage collateral using VantageScore credit scores as an alternative to the Classic FICO credit score model. Mar 19, 2024 ... ... credit score and most recent tax returns and bank statements,” wrote Funding Circle. However, alternative lenders provide small loans with ... Jul 12, 2023 ... ... Credit Data. -13-. Page 14. Trends in alternative data adoption. ▫ Lenders are increasingly using traditional credit scoring, alternative data ... Feb 10, 2022 ... Alternative data promise to expand access to loans for the more than one in seven adult Americans who lack an established credit score, Chopra ... Mar 22, 2019 ... National Taxpayers Union filed comments this week with the Federal Housing Finance Agency on the possibility of using alternative credit ... FHFA, along with Fannie Mae and Freddie Mac (the Enterprises), is committed to regularly assessing and modernizing the credit score models used by mortgage ... Mar 22, 2023 ... This method expands upon traditional credit scoring models and incorporates factors such as non-traditional data such as utility and rent payments, social ... Mar 30, 2020 ... A natural follow-up question is whether we can use the social and mobile footprint vari- ables to come up with an alternate credit scores for ... Sep 23, 2021 ... Abstract. This paper covers a scoping review to establish the breadth of alternative credit scoring literature. The field is nascent and gaining ... In 2017, the Consumer Financial Protection. Bureau (CFPB), issued the request for. “Information Regarding Use of Alternative Data and Modeling Techniques in ...