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....
yes and no... www.ficoguide.com 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.
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??
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.
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
RE: FICO giving scores directl no, this website was in a press release dated 10/31/00 at the Fair Isaac site.
