Magnum Communications To Distribute FICO Expansion Scores

Posted by Orb Staff on December 18, 2007 No Comments
Categories : Residential Mortgage

Fair Isaac Corp. and Magnum Communications Ltd. have formed a partnership that allows Magnum to distribute Fair Isaac's FICO Expansion credit risk score to financial institutions.

Under the agreement, lenders will use Magnum's robust credit data acquisition system, CREDICHECK IV, and a secure Web interface to access the FICO Expansion score. The scoring data has been pre-mapped to Magnum's RapUp data analysis tool, enabling Magnum to bring the score online quickly for easy client implementation, the companies explain.

FICO Expansion score assesses the credit risk of consumers who have minimal or no credit history on file by tapping nontraditional sources of consumer data not found at the national credit reporting agencies.

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