Lend Academy Network Forum

Lending Club Discussion => Investors - LC => Topic started by: hoggy1 on August 31, 2014, 05:12:32 PM

Title: More FICO stuff
Post by: hoggy1 on August 31, 2014, 05:12:32 PM
Anil had a good FICO post not long ago that I assume most are familiar with:
http://andirog.blogspot.com/2012/10/lending-club-loans-borrowers-fico-score.html

I was just scrounging around seeing if one of the credit agencies sold past FICO scores (what we need as lenders is a two or three month FICO history instead of just a snapshot at loan origination time) but it doesn't appear any of them do (should be a new product that LC could purchase and resell to us - they are always looking for new revenue sources). But I found a bunch of charts (most of which agree closely with the one below) showing the national distribution of FICO scores. They indicate 58% of the american public had scores above 700.

I thought that was high and it is higher than the average Joe borrowing from LC. By NS accounting only 41% of LC loans are to persons with scores over 700.

Also found on Motly Fool expectancy of default by score. Can't attest to the accuracy of either dataset.
Title: Re: More FICO stuff
Post by: rawraw on August 31, 2014, 05:33:01 PM
Anil had a good FICO post not long ago that I assume most are familiar with:
http://andirog.blogspot.com/2012/10/lending-club-loans-borrowers-fico-score.html

I was just scrounging around seeing if one of the credit agencies sold past FICO scores (what we need as lenders is a two or three month FICO history instead of just a snapshot at loan origination time) but it doesn't appear any of them do (should be a new product that LC could purchase and resell to us - they are always looking for new revenue sources). But I found a bunch of charts (most of which agree closely with the one below) showing the national distribution of FICO scores. They indicate 58% of the american public had scores above 700.

I thought that was high and it is higher than the average Joe borrowing from LC. By NS accounting only 41% of LC loans are to persons with scores over 700.

Also found on Motly Fool expectancy of default by score. Can't attest to the accuracy of either dataset.
Pretty sure the services can sell you past FICOs.  But you'd have to know the PII of the data set.