U.S. Structured Finance Newsletter: New FICO Score May Increase Perspective on Subprime Consumer Creditworthiness
FICO recently announced that it would be supplementing its primary credit scoring product (the FICO Score) with a new product called UltraFICO Score starting as a pilot program in early 2019. The objective of the new offering is to give borderline (prime/subprime) credit-worthy applicants a “second look†based on their banking behaviors. The new score incorporates a third-party data evaluation of a borrower’s checking, savings or money market accounts.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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