Mortgage Lenders Report Strong Results from Early Adoption of FICO Score 10 T
FICO has announced significant progress in its FICO® Score 10 T Early Adopter Program, with over two dozen mortgage lenders signing up. These clients represent more than $264 billion in annualized mortgage originations and approximately $1.43 trillion in eligible mortgage portfolio servicing.
The program, launched in 2023, allows lenders to receive FICO Score 10 T at no additional fee alongside Classic FICO® Score. Key findings show that 51% of mortgages have a higher FICO® Score 10 T compared to Classic FICO® Score, with 1.7% more mortgages scoring 740+ with the new system.
Several notable institutions have joined the program, including ASMC, Bay Equity, Clear Mountain Bank, and others. The new scoring system leverages trended credit data to analyze borrower behavior over time, enabling more precise lending decisions while expanding credit access responsibly.
FICO ha annunciato progressi significativi nel suo Programma per Adottatori Precoce FICO® Score 10 T, con oltre due dozzine di istituti di credito ipotecario che hanno aderito. Questi clienti rappresentano più di 264 miliardi di dollari in origini ipotecarie annualizzate e circa 1,43 trilioni di dollari in gestione di portafogli ipotecari idonei.
Il programma, lanciato nel 2023, consente ai prestatori di ricevere il FICO Score 10 T senza costi aggiuntivi insieme al Classic FICO® Score. I risultati chiave mostrano che 51% dei mutui hanno un punteggio FICO® Score 10 T superiore rispetto al Classic FICO® Score, con un 1,7% in più di mutui che ottengono un punteggio di 740 o superiore con il nuovo sistema.
Numerose istituzioni di rilievo hanno aderito al programma, tra cui ASMC, Bay Equity, Clear Mountain Bank e altre. Il nuovo sistema di punteggio sfrutta i dati di credito trendati per analizzare il comportamento dei mutuatari nel tempo, consentendo decisioni di prestito più precise mentre si espande l'accesso al credito in modo responsabile.
FICO ha anunciado avances significativos en su Programa de Adoptantes Tempranos FICO® Score 10 T, con más de dos docenas de prestamistas hipotecarios que se han inscrito. Estos clientes representan más de 264 mil millones de dólares en originaciones hipotecarias anualizadas y aproximadamente 1.43 billones de dólares en servicios de cartera hipotecaria elegibles.
El programa, lanzado en 2023, permite a los prestamistas recibir el FICO Score 10 T sin costo adicional junto con el Classic FICO® Score. Los hallazgos clave muestran que 51% de las hipotecas tienen un puntaje FICO® Score 10 T más alto en comparación con el Classic FICO® Score, con un 1.7% más de hipotecas con puntajes de 740 o más con el nuevo sistema.
Varias instituciones notables se han unido al programa, incluyendo ASMC, Bay Equity, Clear Mountain Bank y otras. El nuevo sistema de puntuación aprovecha los datos de crédito en tendencia para analizar el comportamiento de los prestatarios a lo largo del tiempo, permitiendo decisiones de préstamo más precisas mientras se expande el acceso al crédito de manera responsable.
FICO는 FICO® Score 10 T 조기 채택자 프로그램에서 중요한 진전을 발표했으며, 2십여 개의 주택 담보 대출 기관이 가입했습니다. 이 고객들은 연간 2,640억 달러 이상의 주택 담보 대출 원금과 약 14.3조 달러의 적격 주택 담보 대출 포트폴리오 서비스를 나타냅니다.
2023년에 시작된 이 프로그램은 대출 기관이 Classic FICO® Score와 함께 추가 비용 없이 FICO Score 10 T를 받을 수 있도록 합니다. 주요 결과는 51%의 주택 담보 대출이 Classic FICO® Score에 비해 더 높은 FICO® Score 10 T를 가지고 있으며, 새로운 시스템으로 1.7% 더 많은 주택 담보 대출이 740 이상의 점수를 기록하고 있음을 보여줍니다.
ASMC, Bay Equity, Clear Mountain Bank 등 여러 주목할 만한 기관이 이 프로그램에 참여했습니다. 새로운 점수 시스템은 추세 신용 데이터를 활용하여 시간에 따른 차용자 행동을 분석하고, 보다 정확한 대출 결정을 가능하게 하며, 책임감 있게 신용 접근을 확장합니다.
FICO a annoncé des progrès significatifs dans son Programme des Adoptants Précoces FICO® Score 10 T, avec plus de deux douzaines de prêteurs hypothécaires inscrits. Ces clients représentent plus de 264 milliards de dollars en origines hypothécaires annualisées et environ 1,43 trillion de dollars en gestion de portefeuilles hypothécaires éligibles.
Le programme, lancé en 2023, permet aux prêteurs de recevoir le FICO Score 10 T sans frais supplémentaires en plus du Classic FICO® Score. Les résultats clés montrent que 51% des hypothèques ont un score FICO® Score 10 T plus élevé par rapport au Classic FICO® Score, avec 1,7% de plus d'hypothèques obtenant un score de 740 ou plus avec le nouveau système.
Plusieurs institutions notables ont rejoint le programme, notamment ASMC, Bay Equity, Clear Mountain Bank et d'autres. Le nouveau système de notation exploite les données de crédit tendance pour analyser le comportement des emprunteurs au fil du temps, permettant des décisions de prêt plus précises tout en élargissant l'accès au crédit de manière responsable.
FICO hat bedeutende Fortschritte in seinem FICO® Score 10 T Early Adopter Program bekannt gegeben, wobei sich über zwei Dutzend Hypothekengeber angemeldet haben. Diese Kunden repräsentieren mehr als 264 Milliarden Dollar an annualisierten Hypothekenoriginationen und etwa 1,43 Billionen Dollar an verwalteten Hypothekenportfolios.
Das 2023 gestartete Programm ermöglicht es den Kreditgebern, FICO Score 10 T ohne zusätzliche Gebühren zusammen mit dem Classic FICO® Score zu erhalten. Wichtige Erkenntnisse zeigen, dass 51% der Hypotheken einen höheren FICO® Score 10 T im Vergleich zum Classic FICO® Score aufweisen, wobei 1,7% mehr Hypotheken mit dem neuen System einen Score von 740+ erreichen.
Mehrere namhafte Institutionen haben sich dem Programm angeschlossen, darunter ASMC, Bay Equity, Clear Mountain Bank und andere. Das neue Bewertungssystem nutzt trendbasierte Kreditdaten, um das Verhalten der Kreditnehmer im Laufe der Zeit zu analysieren, was präzisere Kreditentscheidungen ermöglicht und gleichzeitig den Zugang zu Krediten verantwortungsbewusst erweitert.
- Early adoption program has attracted clients with $264B in annual mortgage originations
- 51% of mortgages show higher scores under the new FICO Score 10 T system
- 1.7% increase in mortgages scoring 740+ with new system, potentially leading to better borrower terms
- No additional fee for early adopters to access the new scoring system
- None.
Insights
FICO's Score 10 T is demonstrating remarkable market penetration, with the Early Adopter Program capturing lenders representing
The program's structure is particularly shrewd from a business perspective. By offering FICO Score 10 T alongside Classic FICO Scores at no additional fee during the adoption phase, FICO is effectively reducing barriers to entry while creating a compelling value proposition for lenders. This strategy likely accelerates market adoption and helps FICO maintain its dominant position in the credit scoring market.
The performance metrics are particularly noteworthy:
- The
51% of mortgages showing higher scores with FICO Score 10 T indicates improved granularity in risk assessment - The stable median score suggests the new model maintains calibration while providing better differentiation
- The
1.7% increase in mortgages scoring 740+ could translate to significant business volume for lenders, as these prime borrowers typically qualify for better rates
The extensive partnership network with resellers and technology partners creates a robust distribution infrastructure that should accelerate adoption. The integration with MCT Marketplace, the largest mortgage asset exchange for the U.S. secondary market, is particularly strategic as it facilitates the trading of loans using the new scoring model, essential for market liquidity.
The trended credit data analysis represents a significant technological advancement over point-in-time assessments, potentially providing FICO with a sustainable competitive advantage. This enhancement in predictive capability could help FICO maintain its pricing power and market leadership position, particularly important given the high-margin nature of the credit scoring business.
More than two dozen mortgage lenders have signed up to adopt FICO Score 10 T
The Early Adopter Program, launched in 2023, was designed to help mortgage lenders integrate FICO® Score 10 T into their underwriting and risk management processes ahead of broader market adoption. An advantage of being a FICO Score 10 T early adopter is the ability to receive FICO Score 10 T at no additional fee from FICO. Lenders can receive FICO Score 10 T alongside Classic FICO® Score so they can evaluate the advantages before fully moving to utilizing FICO’s newest and most predictive score.
By leveraging trended credit data in our new score, which analyzes borrower behavior over time rather than at a single point, lenders can make more precise lending decisions, reducing risk while responsibly expanding credit access.
Lenders utilizing FICO® Score 10 T for non-GSE loans have reported:
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51% of mortgages have a higher FICO® Score 10 T, compared to Classic FICO® Score - The median score was unchanged between FICO Score 10 T and Classic FICO Score
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1.7% more mortgages score 740+ with FICO Score 10 T (compared to Classic FICO Score), which can result in better borrower terms
“Through the Early Adopter Program, lenders have been able to validate the power of FICO Score 10 T in real-world mortgage underwriting, loan production, execution and servicing,” said Julie May, vice president and general manager of B2B Scores at FICO. “We are proud of the results lenders are seeing and believe that the continued adoption of FICO Score 10 T reflects the industry’s commitment to responsible growth while simultaneously helping borrowers on their path to homeownership.”
Recent additions to the growing list of FICO® Score 10 T adopters include ASMC, Bay Equity, Clear Mountain Bank, Equity Resources, Inc., First Option Mortgage, Homeowners Financial Group, Waterstone Mortgage, New American Funding, Michigan First Credit Union, West Gate Bank, and Quontic Bank.
“At Quontic Bank, we are inspired by the industry’s embrace of FICO Score 10 T and are eager to begin utilizing FICO’s most predictive and innovative credit score to better serve our customers,” said James Hooper, the senior vice president of Production at Quontic Bank. “Closely aligning with our bank's mission, we believe FICO Score 10 T can help us offer more competitive rates and support financial inclusion, ultimately helping more people achieve their dream of homeownership.”
To ensure seamless lender integration of FICO® Score 10 T, FICO is actively collaborating with multiple resellers including Advantage Credit, A+Advantage Plus Credit Reporting, Inc., Birchwood Credit Services, Certified Credit, Credit Information Systems, Credit Interlink, Factual Data, Informative Research, L1 Credit, Partners Credit and Verification Solutions, SettlementOne and Xactus. In addition, FICO has engaged with more than a dozen technology partners. Notably, loans utilizing FICO Score 10 T are already trading on MCT Marketplace, the largest mortgage asset exchange for the
FICO is committed to assisting mortgage industry participants looking to transition to FICO® Score 10 T. FICO’s Mortgage and Capital Markets can provide support across the mortgage ecosystem. In addition to helping the industry prepare for and understand the benefits of FICO Score 10 T, the team can help clients identify potential areas to reduce default exposure and maximize opportunity utilizing the latest credit tools and insights. More information: FICO Score Migration Resource Center
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250224532052/en/
Julie Huang
press@fico.com
Source: FICO
FAQ
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