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Headlines & Perspectives
New FICO Score Targets Lending Risks
By BankingMyWay.com
03/11/09 - 03:01 PM EDT
Equifax one of the three major credit-reporting agencies, today unveiled its BEACON Mortgage Score -- a scoring system based on a scoring model developed by FICO. Meanwhile, FICO's new scoring model, FICO 08, was recently adopted by TransUnion under the name FICO Risk Score, Classic 08. Both new scores promise better predictive ability to identify lending risks, especially in the the mortgage arena.
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