A new credit scoring system is being developed that aims to create a more complete depiction of a consumers financial standing, which will include payday loan applications, rental payments in collection and judgments for child support, phone bills, property tax liens, and utility bills, among many others.
CoreLogic, which was founded 1991, introduced the CoreScore credit report earlier this month as a means of giving lenders an opportunity to make better informed lending decisions, with the actual score coming in March of 2012.
All of the information included in CoreScore is publicly available which the major credit bureaus typically overlook as trivial or too complicated to track.
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