Service Mortgage Customers with Resilience Insight: Using the FICO® Resilience Index
FICO – developers of the FICO® Score – introduced a new tool designed to give servicers new and powerful insights into their borrowers: the FICO® Resilience Index.
Mortgage servicers have to wrestle with very difficult issues, particularly when they have to manage risks they can’t see. It is hard for servicers to tell if borrowers are going to default and, when loans become delinquent, how borrowers will respond to their situation. It can sometimes feel like the loans they thought would be fine end up presenting the biggest challenges.
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