VantageScore Solutions is releasing a new credit scoring model which it says will enable lenders and others using the system to pull scores on 30 to 35 million previously unscorable consumers. The company claims its model, called VantageScore 3.0 provides up to 25 percent better predictiveness and uses the consumer-familiar scoring range of 300 to 850. The model was built using a sample of 45 million anonymous credit files.
Testing of its new model shows that it provides improves predictive strength across all industries and applications but in particular within the key prime and near-prime consumer populations, the most sought after group among mainstream lenders…