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 · Lenders Rely Less on FICO Score to Determine Creditworthiness · 2 Aug 2021 podcast

For example, when a consumer's FICO score is low, that score might then guide a bank to reject the applicant.

But the bank might be seeing data not reflected in the credit score.

that is saying, you know what, this person doesn't look as bad of a risk as their FICO score suggests.

Let's go ahead and approve them.

This is something that's been happening at Capital One now for some time.

And one of the things that Capital One found as it was approving people using its own data, its own score, its own proprietary score, whom FICO scores suggested maybe they shouldn't approve because they were too risky,

The bank found in tracking these people that few of them actually defaulted.

Similarly, and in kind of the opposite direction of things, somebody's FICO score might be high enough to suggest, oh, yeah, this person shouldn't have a problem getting approved.

But there might be other data

that the banks are seeing that suggests this person is taking on more risk or there's something risky about them that isn't reflected right now in their score, but that we see in our own data, we're not going to approve them or we're going to approve them, but not at the

good terms, let's say, that they would expect to receive from an interest rate or a spending limit standpoint.

So really what it means for consumers is that FICO remains a good gauge of roughly where you stand on the spectrum of being creditworthy or not in the eyes of lenders.

But it's harder to say, oh, you know, I have a high score.

I'm going to get approved.

Or I have a low score.

There's no reason in applying.

because the banks are looking at more and more data on their end.

WSJ Your Money Briefing · Americans Taking On Auto Loans, Credit Cards at Record Rates · 13 Jul 2021 podcast

Basically across the board where demand is on the rise extends beyond auto loans and leases to credit cards as well as to personal loans. matched

Great to be speaking with you. matched

So for auto loans and leases, there were about 3 million of them that were originated in March. matched

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