Income Insight SM and Income Insight W2SM

Gain added transparency into the credit capacity of your customers

In today’s financial market, it is critical to have a comprehensive view of your customers’ ability to pay. Understanding an individual’s income levels and debt obligations allows you to make more informed decisions around their credit capacity. Experian’s Income InsightSM income estimation models can help you better understand the risk profile of your customers and enhance your underwriting and risk-assessment process.

Efficient, real-time income validation

Income Insight and Income Insight W2SM are tri-bureau-capable income estimation models built on bureau-exclusive predictors and verified income data.

Ideal for credit issuers, Income Insight and Income Insight W2 support lenders’ ability to comply with recent regulations while providing a reliable, real-time income estimation tool. Both models use credit attributes, not demographic factors, and therefore comply with the Fair Credit Reporting Act and the Equal Credit Opportunity Act.

Consumer protection

Results are instant and may be provided online with a credit report or in batch with other reports. No consumer interaction is required. These models provide an alternative to consumer-stated income to ensure that consumers’ privacy is protected at all times. With Experian’s Income Insight models, lenders can assess individuals’ income in a seamless manner.

Two options to choose from:

Income Insight provides a comprehensive measurement of total income, including wages, rent, alimony and investments. This enhances the ability to assess a customer’s complete financial picture and improves decision making by providing in-depth insight into a customer’s overall ability to pay.

Income Insight W2 estimates the wage income of a consumer. Having this added level of transparency when validating a customer’s self-reported wages helps you streamline your underwriting process by eliminating the need for costly and time-consuming income verification.

Uses and applications

Versatile, intuitive and easy-to-use, the Income Insight models may be deployed in a variety of ways when it is essential to determine an individual’s ability to meet financial obligations:

Prospecting

  • Establishing criteria and cutoffs for prospects in various income ranges to target those customers with the greater income and debt capacity

Acquisitions

  • As a best practice for validating stated income
  • Setting line assignments for approved borrowers

Account management

  • Creating stronger risk-management segmentation by effectively identifying prime creditworthy accounts
  • Offering line increases to those with the greatest ability to take on additional debt

Collections

  • Developing more accurate and appropriate repayment plans utilizing a consumer’s income as input
  • Calculating settlement offers based on the consumer’s income so money is not left on the table

Determine overall creditworthiness

As companion tools to the Income Insight models, Debt-to-Income InsightSM and Debt-to-Income Insight W2 SM provide an all-in-one assessment of a customer’s capacity to take on additional debt. These models leverage the predictive power of the Income Insight models and Experian’s market-leading Premier AttributesSM to create a debt-to-income ratio based on a consumer’s outstanding debt obligations from their credit report compared to their estimated income.

Customizable to your specific needs

Knowing a customer’s debt-to-income ratio is critical to your ability to make profitable decisions. With Debt-to- Income Insight, you have the power to select the debt obligations used in the models. Options include all debt, first mortgage debt and all mortgage debt.

No adverse action permitted

Though all Income Insight and Debt-to-Income Insight models are powerful decision-support tools, adverse actions based on their results, such as declining applications, lowering requested loan amounts, closing accounts or imposing less-desirable terms, are prohibited.

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