Minneapolis and Eagan, Minnesota – March 4, 2010 – AllRegs, the leading publisher of guidelines for the mortgage industry, and FICO, the leading provider of analytics and decision management technology, have introduced a new FICO National Certification program: the Certified FICO® Professional (FICO Pro). This program is designed to recognize individuals who have a strong understanding of FICO® scores and how the FICO® score impacts both the lender and the consumer.
In order to receive this certification, candidates must agree to a code of ethics and successfully complete three one-hour online courses delivered by AllRegs Academy: Exploring FICO Scores, Analyzing the Credit Report, and Communicating Credit Information.
Certified FICO® Professionals (FICO Pro), based on FICO® scores and other credit and lending criteria, will understand how FICO® scores are created, the categories and data utilized in the credit report and the impact of FICO® scores on consumers.
“We are excited to partner with FICO to offer this unique national certification to professionals in the mortgage industry and other credit industries,” said Dan Thoms, senior vice president of AllRegs. “The FICO Pro certification provides a knowledge benchmark for individuals who assess credit risk and how that risk impacts their company and customers.”
“Because extending credit always involves risk, FICO scores play a pivotal role for both lenders and borrowers in most credit decisions,” said Robert Duque-Ribeiro, vice president and general manager of Scores for FICO. “That’s why it is crucial that lenders, mortgage professionals and their service representatives understand how FICO scores do their work of assessing credit risk. The knowledge provided by the new AllRegs curriculum gives financial services professionals the foundation they need to discuss FICO scores confidently and accurately with their borrowers and applicants.”
Registration in the program includes access to all three required courses. FICO Pro certification candidates have 12 months to complete the program from the date of enrollment. To take advantage of this program or for full details, visit www.allregs.com or call (800) 848-4904, Monday through Friday, between the hours of 8:00 a.m. and 6:00 p.m. CT.
About AllRegs: First introduced in 1989, AllRegs is used by virtually all of the top 100 lenders as well as throughout numerous governmental agencies, including Fannie Mae, Freddie Mac, the FHLBs, FHA, VA, RHS, Ginnie Mae, and more. AllRegs is a Mortgage Technology Magazine Top 50 Service Provider for 2008 and 2009, winner of the 2009 Mortgage Technology Synergy Award with partner Mortech, and the exclusive electronic publisher of the Fannie Mae and Freddie Mac Single and Multi-Family Seller/Servicer Guides, The Federal Home Loan Banks’ MPF Program Guidelines, and CalPERS’ Member Home Loan Program Guidelines. Products include single and multifamily underwriting & insuring guidelines as well as federal compliance laws and regulations, state compliance laws and regulations with plain-language analyses, contract publishing services and a library of historical guidelines. The educational division, AllRegs Academy, offers distance learning, classroom training and practical guides. For more information, call (800) 848-4904 or go to www.allregs.com.
FICO (NYSE:FICO) transforms business by making every decision count. FICO’s Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with FICO to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. FICO also helps millions of individuals manage their credit health through the www.myFICO.com website.