Wall Street Journal (03/11/08) P. D1; Kim, Jane J.
Lenders these days are using more than credit scores to determine a borrower's creditworthiness. Fair Isaac Corp.'s Expansion scores were adopted by lenders originally to boost business, as they detail rent and utility payments and an individual's check-writing history and make it possible to gauge risks when lending to borrowers without ample credit histories. However, the subprime mortgage crisis has prompted lenders to use this information to double-check the creditworthiness of borrowers with traditional credit histories. An alternative credit scoring system will be unveiled by Experian Group Ltd. on March 11, and it is similar to the one rolled out by TransUnion LLC last year. Meanwhile, Fair Isaac is adding more information to its Expansion scores.
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