FICO08

[hegemony]

looking like early 2008 at best even for EX...more details to follow.

[goldtrad]

So the AU cheaters get a reprieve? Just kidding.

[fxdm70]

Heck I think its great.. gimme a little more time for my roomate to build his credit

[stefer1215]

Heck I think its great.. gimme a little more time for my roomate to build his credit

 

I agree I would like to have more time to work on DH reports before the switch.

[hegemony]

hmmmmm...

[goldtrad]

hmmmmm...

 

 

Something new already?

[hegemony]

hmmmmm...

 

 

Something new already?

yup...but too close to home. conclusion: neoFICO should not scare us.

[sarg]

hmmmmm...

 

 

Something new already?

yup...but too close to home. conclusion: neoFICO should not scare us.

do tell...

[kota]

Hegemony...any updates?

[hegemony]

Hegemony...any updates?

yes

[sarg]

Hegemony...any updates?

yes

[hegemony]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

Edited September 15, 2007 by hegemony

[ldan]

Hegemony...any updates?

yes

 

Hege - you are so bad!

I know there are several of us here (me included) who are spelling/grammar/syntax nazis and believe in brevity, but really!

[sara21200]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

What about the other 2?

[goldtrad]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

 

Thanks for the update.

[hegemony]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

What about the other 2?

word on the street is quarter 3.

 

another word up: FICO is NOT standardizing FICO08 back to current FICO. meaning the mean and median FICO scores as well as the distribution will CHANGE under FICO08. expect the mean score and median score to decline (rumor).

[sara21200]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

What about the other 2?

word on the street is quarter 3.

 

another word up: FICO is NOT standardizing FICO08 back to current FICO. meaning the mean and median FICO scores as well as the distribution will CHANGE under FICO08. expect the mean score and median score to decline (rumor).

 

can you explain?

[goldtrad]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

What about the other 2?

word on the street is quarter 3.

 

another word up: FICO is NOT standardizing FICO08 back to current FICO. meaning the mean and median FICO scores as well as the distribution will CHANGE under FICO08. expect the mean score and median score to decline (rumor).

 

Now you started something. I know there are other changes coming besides the AU thing. More categories for us do badders with BK and tax liens. Will our scores decline as well as the AU crowd? I believe I may have benefitted from inclusion in the BK pool. Thanks.

[hegemony]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

What about the other 2?

word on the street is quarter 3.

 

another word up: FICO is NOT standardizing FICO08 back to current FICO. meaning the mean and median FICO scores as well as the distribution will CHANGE under FICO08. expect the mean score and median score to decline (rumor).

 

can you explain?

right now the average FICO is about 680 and the median FICO is about 723. it looks like scored with FICO08 these will be falling, as perhaps by as much as 5% (rumor).

[hegemony]

I should add that my spouse's company is tripping right now because it may mean FEWER people for them to approve. not good for organic growth...

[sara21200]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

What about the other 2?

word on the street is quarter 3.

 

another word up: FICO is NOT standardizing FICO08 back to current FICO. meaning the mean and median FICO scores as well as the distribution will CHANGE under FICO08. expect the mean score and median score to decline (rumor).

 

can you explain?

right now the average FICO is about 680 and the median FICO is about 723. it looks like scored with FICO08 these will be falling, as perhaps by as much as 5% (rumor).

 

Is that just because of the loss of AU accounts? Do you know what would cause the drop?

[hegemony]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

What about the other 2?

word on the street is quarter 3.

 

another word up: FICO is NOT standardizing FICO08 back to current FICO. meaning the mean and median FICO scores as well as the distribution will CHANGE under FICO08. expect the mean score and median score to decline (rumor).

 

can you explain?

right now the average FICO is about 680 and the median FICO is about 723. it looks like scored with FICO08 these will be falling, as perhaps by as much as 5% (rumor).

 

Is that just because of the loss of AU accounts? Do you know what would cause the drop?

well 30% of people use AU accounts and most of these people probably have HIGHER scores because of it (some of course have lower scores because of AU accounts that are, e.g., maxed out). also, FICO is moving from 10 to 12 segmentations. part of the segmentation strategy is to reduce the score losses from the removing of AU tradelines from the calculations.

[TampaDude]

I should add that my spouse's company is tripping right now because it may mean FEWER people for them to approve. not good for organic growth...

 

I presume if the scores drop by a certain amount across the board, lenders can adjust thier score cutoffs to compensate.

[hegemony]

I should add that my spouse's company is tripping right now because it may mean FEWER people for them to approve. not good for organic growth...

 

I presume if the scores drop by a certain amount across the board, lenders can adjust thier score cutoffs to compensate.

but that means approving people who are higher credit risks according to FICO08...approvals and growth need to be weighted against risk.

[hegemony]

Hegemony...any updates?

yes

EX will roll out FICO08 in the first quarter of 2008. i.e., as late as MARCH.

 

What about the other 2?

magic 8 ball says third quarter.