Anna Maria Andriotis

speaker

3,396 appearances 52 recordings 1 series first heard Jul 2017 last heard Dec 2022

Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Don't Have a Credit Report? Now You Can Make Your Own. · 26 Jan 2022 podcast

665 is huge. voice-verified

certainly a decent score. voice-verified

I mean, it's a life changer for someone who had no score, because at a 665, approval for many loan products at decent pricing terms is well within reach. voice-verified

Maybe not every lender will approve, but approvals are likely. voice-verified

Well, the programs to date have had mixed success. voice-verified

So FICO, which is the creator of the widely used FICO credit scores in 2018, said that it was launching a new score that would factor in bank account activity as well as loan payments. voice-verified

And that really certainly sounded like a game changer at the moment. voice-verified

The factoring in bank account activity in a score provided by such a large and sort of widely used company really seemed like just, okay, the tide is certainly turning. voice-verified

Unfortunately though, a very small number of lenders so far have been using this service and that's due to a variety of reasons. voice-verified

But essentially, it's important to note all of this because voice-verified

Just because a credit reporting or credit scoring firm, even when they're the largest in the space, launches an effort to try to get more people without credit reports or with credit reports, but trying to give them sort of a lift by adding other accounts in there, that doesn't necessarily mean that the effort's going to be a success. voice-verified

WSJ Your Money Briefing · Credit-Card Lenders Resume Courting Subprime Consumers · 11 Jan 2022 podcast

The unemployment rate is low. matched

The missed payments that banks are seeing on credit cards remain very low, close to record levels of how low they are. matched

Great to be speaking with you. matched

So banks pulled back on extending credit when the pandemic began. matched

The concerns then had to do with the rising unemployment rate, which had spiked very suddenly, and the concerns that, generally speaking, when unemployment rises, delinquencies follow. matched

And what banks were trying to do was to limit loan losses going forward at that point. matched

And they did a variety of things. matched

They increased their credit score requirements for applicants who were seeking new credit. matched

They also shut down some of their existing customers' credit cards, lowered spending limits for others. matched

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