What are the legal definitions of fair lending in the context of alternative credit scoring?

As with prior developments in the evolution of credit underwriting, including the advent of credit scoring, the use of alternative data and analytical methods ... Mar 21, 2022 ... MO Technologies Chooses Esri's ArcGIS Platform to Support Alternative Credit Scoring Tool ... The product also works in tandem with MO Score, the ... 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%. Aug 16, 2022 ... An alternative credit score uses data that isn't used in traditional credit scoring models, called alternative data. Here's why alternative ... A movement is under way to collect and score alternative data that reflect the many payments credit-underserved individuals routinely make for insurance, ... Jul 20, 2022 ... And although it has not stretched as far as GSE conservatorship, the FHFA's review of alternative credit scoring models is now in its seventh ... Apr 24, 2020 ... Smartphone data, like geolocation and data usage, can be used by financing companies to evaluate the risk level of an individual without a credit history. What is Alternative Credit Scoring? Alternative credit scoring is used to examine additional data sources and other relevant factors to assess borrowers with ... Jan 28, 2025 ... ... alternative credit scoring models that would meet an institutions' legitimate business needs. The CFPB's examiners also noted that financial ... Dec 19, 2023 ... Alternative credit scoring is a paradigm shift from traditional methods. It broadens the scope by incorporating diverse data sources beyond income and credit ...