FICO giving scores directly?

Discussion in 'Credit Talk' started by sl1029, Nov 1, 2000.

  1. sl1029

    sl1029 Well-Known Member

    I saw a blurb on a mortgage industry website that FICO just announced at the Mortgage Bankers of America Assoc. conference yesterday that they have launched a site giving credit scores and explanations directly to the consumer....anybody else hear this or know the website?

    The Fair Isaac website doesn't offer any info....
  2. pat

    pat Guest

    yes and no...

    a consumer can't yet get his own FICO score. Lenders who decline loans have been telling consumers their scored for a long time. This site allows lenders (NOT consumers) to get more detailled info to give consumers who are declined.

    It is merely an attempt to placate government regulators and legislators. It doesn't really tell the consumer anything until after they are declined for a loan.
  3. David

    David Well-Known Member

    RE: yes and no...

    It says that you can sign up as a consumer (not as a rep of a company). Am I misreading this??
  4. Pat

    Pat Guest

    no, and yes

    I cut and pasted verbatim:

    1.Will Fair, Isaac give borrowers their FICO® score and reason codes?
    Not today, although we expect to provide FICO scores to
    consumers at a later date. Fair, Isaac doesn't compute the FICO
    scores themselves. Instead we provide the scoring formula used by
    national credit reporting agencies so that they can calculate FICO
    scores from information in the consumer credit files they maintain.
    We are working with those agencies in order to provide scores and
    credit reports directly to consumers.
  5. sl1029

    sl1029 Well-Known Member

    RE: FICO giving scores directl

    Pat, is this a new site (i.e. launched today or yesterday)or an existing one?

    On the public (i.e.) free area of the National Mortgage News website yesterday there was an article intro. that specifically said Fair Isaac had launched there site for CONSUMERS to directly get their scores. They apparently announced this at the Mortgage Bankers of America Association Conference on 10/31

    Isn't this what Fair Isaac agreed to do this last spring or summer, they just never put a specific date on it or agreed to a specific $$)

    i think this is a different site than the one you provided
  6. Pat

    Pat Guest

    RE: FICO giving scores directl

    no, this website was in a press release dated 10/31/00 at the Fair Isaac site.
  7. roni

    roni Well-Known Member

    What is the website.

    So I can read for myself. Please. gentlemen.
  8. Pat

    Pat Guest


  9. Pat

    Pat Guest


  10. roni

    roni Well-Known Member



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