VantageScore® granted patent for its "One model" Approach



Businesses are expanding their lending landscape while keeping risk to a minimum. They are doing this by making better risk-management decisions and utilizing a more accurate and consistent score — VantageScore®.

Four of the five top lenders use VantageScore because of its advanced segmentation techniques and consistency, with 60 percent of consumers’ scores falling within 20 points when sourced from two or more credit reporting companies (CRCs). The variances are attributed to data differences within the various credit files. This is especially critical for mortgage originations underwriting where lenders often take the middle of three scores or the lower of two scores.

VantageScore Solutions, LLC was granted a patent from the United States Patent and Trademark Office for its “methods and Systems for Multi-Credit Reporting Agency Data Modeling”. The patent covers the ability to develop and install the same credit score at multiple CRCs, resulting in consumer credit scores that are as consistent as possible when accessing credit scores from each of the CRCs. Other scoring methods use different models for each CRC, which results in variability in both risk levels and scores that lenders and consumers receive.

VantageScore is the only score to employ the same characteristic information and algorithm at each CRC, resulting in a more consistent score across all three CRCs, which provides more consistent risk assessment information to lenders.

VantageScore is unique because it offers significant improvement in performance over traditional scores in the market. A recent press release highlighted how VantageScore allows lenders to acquire more customers while maintaining lower risk profiles.

To find out more about how VantageScore can improve your business, call us at 1 888 710 4093 or click here to have an Experian representative contact you.

*VantageScore® is owned by VantageScore Solutions, LLC.

 

  • © Experian 2011. All rights reserved.