None
EN
FICO 10T gains momentum as more than 70 lenders join program
['Eric Souza', '.Pp-Multiple-Authors-Boxes-Wrapper.Pp-Multiple-Authors-Layout-Boxed.Multiple-Authors-Target-The-Content .Pp-Author-Boxes-Avatar Img', 'Width', 'Important', 'Height', 'Border-Radius', '.Pp-Multiple-Authors-Boxes-Wrapper.Pp-Multiple-Authors-Layout-Boxed.Multiple-Authors-Target-The-Content .Pp-Author-Boxes-Meta A', 'Background-Color', 'Color', 'Ffffff']
Scotsman Guide
More than 70 lenders have signed up to use FICO 10T, the new credit scoring model from Fair Isaac Corp. (FICO).
According to FICO, lenders participating in its FICO Score 10T free access program represent $586 billion in annual originations and $1.865 trillion in servicing portfolios.
The program allows participating lenders to compare FICO Score 10T to Classic FICO, which has long been the standard credit scoring model for the mortgage industry.
Dee said InterLinc plans to evaluate FICO 10T alongside the Classic FICO model over the coming months because “these are the beginning stages of this journey.”
On July 1, Fannie and Freddie published historical FICO 10T data in a procedural step for future acceptance of the modernized FICO score for GSE-eligible loans.