Dear Colleague,
For some, the first sign of spring is sprouting tulips and March Madness buzzer-beaters. For VantageScore Solutions, the first indicator is CBA LIVE, the annual conference and exhibition hosted by the Consumer Bankers Association. This year’s conference, CBA LIVE 2014, was held from March 30 to April 2 at the Gaylord National Resort and Convention Center, in National Harbor, MD., just outside Washington, D.C.
At a sold-out breakfast session to kick off this year’s conference, Sarah Davies, our SVP of analytics, research and product management, delivered a presentation on how innovations in the credit scoring market can help lenders expand their “sweet spot.” I introduced Sarah, and my message was simple: Test us!
Don’t just take our word for how the model can provide transformative improvement. Take your word for it. Validate and test the model on your own portfolio to see the results for yourself. You’ll see that VantageScore 3.0 sets a new standard for predictiveness, consistency and inclusiveness.
You will sleep better at night as well, knowing your credit decisions are aligned with your goals. For more information on validation, please visit our website.
A big shout-out to Richard Hunt, president and CEO of Consumer Bankers Association, and his team, who seemingly worked around the clock at the conference to ensure its success.
And, as always, we have a terrific lineup of articles this month. Back in 2011, the Office of the Comptroller of the Currency (OCC) issued expanded guidance, encouraging lenders that use models in their decisioning systems to perform routine validations. How many are taking the OCC’s guidance to heart? We’ve got the answers in our lead article.
Next up is an article by credit score guru John Ulzheimer, who discusses how competition in the credit scoring market is helping consumers. The article is adapted from one that originally appeared at CreditSesame.com.
Our “Did You Know” article focuses on one of the more frustrating aspects of how reason codes work. We look at why consumers with high credit scores still receive reason codes that describe how negative behaviors could be impacting their credit scores.
And finally, I am delighted that Ken Lin, CEO of Credit Karma, is our guest for the “Five Questions With” column. Fresh off making headlines through raising $85 million led by Google Capital, Ken answers our questions about how the availability of credit scores has changed over the past few years.
Regards,
Barrett Burns