The National Consumer Assistance Plan (NCAP) is an initiative launched by the three nationwide consumer credit reporting companies—Equifax, Experian and TransUnion—to make credit reports more accurate and to make it easier for consumers to correct any errors on their credit reports.
One example of improvements will be a significant reduction in the number of certain negative records found in some consumer credit files—specifically some tax liens, collections accounts, and other public records.
VantageScore Solutions built the VantageScore 4.0 model with those changes in mind. The model’s provisions include:
The introduction of VantageScore 4.0 further underscores that lenders should evaluate how their incumbent models perform with and without the aforementioneddata, to determine whether there is detrimental impact on predictive performance and approved populations.