Experian headstoneThe mortgage marketplace will now benefit from loan-level data with FICO® Scores to better assess the underlying value of securities

Experian® announced that for the first time, Freddie Mac investors will have the advantage of additional transparency in the evaluation of investment decisions. Freddie Mac will leverage FICO® Scores calculated from Experian consumer credit data for loan-level disclosures to investors, providing the information needed to better assess the value of Credit Risk Transfer securities.

“Experian is investing in products and services, including trended data, for the mortgage finance system and we are very pleased to be working closely with Freddie Mac, a pillar in the mortgage community.” said Michele Raneri, Vice President of Analytics and Mortgage Business Development at Experian. “Freddie Mac investors will now have access to data that levels the playing field for the assessment of investment instruments.”

“The availability of loan-level data along with FICO Scores is transformative for our investors,” said Michael Reynolds, Vice President, Credit Risk Transfers. “FICO Scores calculated from Experian consumer credit data and other credit risk tools help our investors to assess the value of securities while protecting the privacy of the underlying borrowers, which is vital to our mission.”

Experian is also investing in making trended data available for the mortgage market. While this data is available as appended data in a variety of its credit products today, Experian plans to make this data available in real time November of this year.

Source: Experian Press Release