FICO and LoanPASS Introduce Batch Pricing Tool for Large-Scale Loan Analysis
FICO and LoanPASS have launched a new batch pricing tool for FICO Score 10T, giving lenders the ability to analyse and compare pricing outcomes across thousands of loan files simultaneously. This enhancement builds on the earlier integration of FICO Score 10T into LoanPASS’s platform and is designed to provide lenders with deeper insights into risk profiles and pricing strategies at scale.
The batch pricing functionality enables financial institutions to run side-by-side comparisons between the newer FICO Score 10T and Classic FICO scores. By examining pricing differences across large portfolios, lenders can better understand potential rate advantages, refine risk management strategies and make more informed decisions about adopting advanced credit scoring models.
LoanPASS was the first product-and-pricing engine to implement the FICO Score 10T for non-conforming mortgage loans, and the new batch tool builds on this milestone by helping lenders scale analysis and improve operational efficiency. The batch pricing capability empowers lenders to evaluate performance characteristics of loans with greater confidence and transparency.
Mike Lewis, President of LoanPASS, said that providing lenders with flexible and transparent tools has always been a priority, and the new batch pricing feature supports that mission by enabling more robust comparison of pricing results across large datasets. These insights can be especially valuable in today’s dynamic lending environment.
The FICO Score 10T itself incorporates trended credit bureau data, offering a more comprehensive view of borrower behaviours over time. Early adopters of the model have reported potential improvements in predictive performance compared with earlier scoring versions, which can translate into more accurate risk assessments and pricing decisions.
FICO’s Mortgage and Capital Markets team continues to support lenders transitioning to the FICO Score 10T, providing guidance and resources to help industry participants understand the benefits of the enhanced scoring model. This includes identifying opportunities to reduce default exposure and maximise potential returns through informed pricing and risk strategies.
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