Articles Tagged ‘credit scoring FICO 8’

How Recent Credit Scoring Revisions Affect You
Wednesday, February 2nd, 2011
How Recent Credit Scoring Revisions Affect YouThe lending industry looks to the Fair Isaac credit scoring system to determine the strength or weakness of potential borrowers. The system periodically undergoes some changes to deal with the evolving economic system. Fair Isaac & Company introduced FICO 8 with the hope that it will help lenders better evaluate the risks of a potential borrower. The recent escalation of foreclosures in the real estate market has required the FICO to be adjusted to better determine the likelihood of default. Fair Isaac & Company constantly adjusts the formula for determining credit scores. The changes in the FICO 8 system reflect the...

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