I am a reporter for a nationally syndicated real estate section published weekly in newspapers across the country. I’m looking to interview realtors/agents, mortgage professionals, remodeling pros, credit experts, and other housing experts for the following article:
WILL NEW DATA LEAD TO MORE CREDIT? A new report from FICO (available at tinyurl.com/oso7qox) looks at using alternative data to determine a candidate’s creditworthiness. This article will explore what the ramifications are for prospective mortgage loan borrowers. Below is a list of questions I’m seeking answers to. I can either conduct a phone or email interview (with the latter, please email me back full-sentence written responses that I can use as quotes). My deadline is noon central time, Friday, Jan. 1, 2016.
QUESTIONS:1. What are the pros and cons of lenders using traditional credit bureau data (from Experian, TransUnion, etc.) to score consumers for credit?2. According to FICO’s new report (found at tinyurl.com/oso7qox), lenders can reliably identify millions more consumers who qualify for credit using alternatives like FICO’s Score XD pilot program. How and why is this true? 3. Are there any other alternatives to traditional credit bureau data that can help lenders identify more credit-worthy borrowers? What do you recommend lenders do/turn to here?4. What are the ramifications of this report for consumers/borrowers, especially those seeking a mortgage loan? Will this result in possibly more consumers qualifying for credit than in the past? How/when/why?5. What tips can you provide consumers so they can improve their credit/credit scoring now, even if lenders don’t end up using alternatives to traditional credit bureau data that improve consumers’ chances?6. Any other thoughts, tips or suggestions on this topic? 7. What is your full name, title, company, city/state location, and email address?Keywords
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