Dear Colleague:
One
of the things I love about my job leading VantageScore Solutions is the
fact that we’ve been able to develop meaningful relationships with so
many different individuals and institutions over the years. Let’s face
it: every organization has issues and values that are important to them.
We’re no different, and neither are the groups with whom we work. What I
find gratifying, however, is when those values and issues are shared.
The recent release of the Credit Score Knowledge Survey – which we produce each year with the Consumer Federation of America
(CFA) – is a great reminder of this. The results of this new survey
were both enlightening and sobering (you can read more about it in this
newsletter). No one understands consumers better than the CFA, and its
guidance on this study and consumer education in general informs the
direction VantageScore takes as we work to educate consumers about
credit. None of it would be possible without shared values, and the same
can be said about a number of other relationships we’ve developed over
the years.
We’ve worked hand in hand with the Mortgage Bankers Association and Consumer Bankers Association to advocate for legislation that will help create a more competitive mortgage market.
We are proud of our work with the National Community Reinvestment Coalition and the National Fair Housing Alliance to help provide more homeownership opportunities to minority and low- and middle-income borrowers.
We stand by the National Association of Hispanic Real Estate Professionals and the Asian Real Estate Association of America on
similar issues. From the early days of VantageScore, these
organizations understood that our model could help more members of their
constituency obtain sustainable homeownership.
Staying in touch with the investment community’s needs is also important to us, which is why we closely partner with the Structured Finance Industry Group.
We work together with issuers, underwriters, investors and ratings
agencies to elevate understanding of how the credit scoring models can
impact the viability and performance of consumer asset-based securities
and in turn, how scoring models can impact the economy overall.
And
to think that these are just a few of the great groups with whom we’ve connected. The value of these relationships and the work we do together cannot be understated, both from an institutional and a personal perspective. It really is the best part of my job.
Thanks,
Barrett