By using a broader and deeper set of credit file data and more advanced modeling techniques, the VantageScore 3.0 model can provide credit scores for 30-35 million consumers who are invisible to legacy credit scoring models. That’s a group of prospects larger than the population of Texas!
And the numbers only tell part of the story:
According to our Universe Expansion white paper:
Our paper on testing credit scoring models for statistical bias demonstrates that the methods employed by VantageScore 3.0 do not favor any one population over another, and that the model meets requirements of the Equal Credit Opportunity Act (ECOA).
By significantly increasing the number of Americans who can get accurate credit scores, the VantageScore 3.0 model creates opportunities for lenders and credit-worthy borrowers alike.