Posts Tagged ‘ risk management ’

[Webinar] Meeting the model risk governance expectations of regulators

Financial institutions of all sizes increasingly rely on quantitative analytics and modeling for a wide array of financial decision making, including, but not limited to, the underwriting of loans; measuring risk, including enterprise-wide risk measurement; and determining capital and reserve adequacy.[ READ MORE ]

Collection Industry Under the CFPB Microscope. Learn How to Protect Yourself

A record 12,788 lawsuits were filed in 2011 against accounts receivable management companies for regulatory violations, with the majority related to the Fair Debt Collection Practices Act. This year began with increased concern from the collection industry as the Consumer Financial Protection Bureau (CFPB) shows heightened interest in debt collectors. With this increased scrutiny, collection companies are under the microscope even more than before. Companies face potential litigation, fines and negative publicity if they attempt to collect on past-due consumers without proper handling. It’s now critical to identify accounts with a protected status before making collection efforts, in order to minimize legal risk and optimize your resources.[ READ MORE ]

VantageScore – Lenders Look At More Than Your Credit Score

VantageScore® helps consistently measure a consumer’s creditworthiness across all bureau platforms. The majority of lending decisions are based on custom scores developed and owned by individual creditors. Financial institutions view these custom scores as intellectual property, and they are rarely, if ever, disclosed to consumers. There also are various third-party scores that lenders use in the underwriting process that are implemented differently to assess a consumer’s creditworthiness.[ READ MORE ]

The Benefits of Knowing A Consumer’s Ability To Pay

Income InsightSM and Income Insight W2SM, Experian’s income estimation models, were developed primarily to assist credit card lenders in assessing a consumer’s ability to pay to minimize the likelihood of extending credit beyond what the consumer can repay. However, as mentioned in a recent USA Today article, many other types of clients besides credit card lenders have found uses for income estimation models.[ READ MORE ]