{"id":2490,"date":"2014-08-08T13:21:20","date_gmt":"2014-08-08T17:21:20","guid":{"rendered":"https:\/\/www.duck9.com\/?p=2490"},"modified":"2017-05-09T12:32:15","modified_gmt":"2017-05-09T16:32:15","slug":"does-fico-calculate-score-for-lenders","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/does-fico-calculate-score-for-lenders\/","title":{"rendered":"Does FICO Calculate Score for Lenders?"},"content":{"rendered":"

Larry Chiang has an engineering degree and taught at a Top 100 University called Stanford University. He spoke because Harvard Business School student, Paul Thompson, called him a “credit score vigilante” and he wrote: \u201cWhat They Don\u2019t Teach You at Stanford Business School<\/a>“. Now, Chiang writes at Harbus<\/a> and investigates how to Beat the FICO.
\n<\/strong><\/p>\n

\"Larry<\/a>PALO ALTO, Calif.<\/strong><\/p>\n

By Larry Chiang<\/p>\n

Beat the FICO<\/a><\/p>\n

The idea is to take the existing rules. Hack them.<\/p>\n

The idea is to take inalienable, irrefutable truths. Promote them.
\nThe execution runs into lies. So amplify those lies<\/p>\n

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Here’s what Craig Watts, public relations director for Fair Isaac, had to say: \u201cThe median score is about 720 on [a] FICO scale of 300-850.”\u00a0 <\/span><\/p>\n<\/blockquote>\n

HOW DUMB DO YOU THINK WE murr-CANS ARE!?? Craig Watts expanded the truths further by saying,<\/p>\n

“Generally, the median national score has changed little over time. Fair Isaac does not track it that closely, as we aren’t a credit bureau<\/a>“<\/span><\/p><\/blockquote>\n

LARRY CHIANG SAYS: “omFg, If my FICO were a credit score monopoly called FICO…, you must behave poorly.<\/p>\n

Here is where you are going to have to really swallow it:<\/p>\n

\u201cWe aren’t a credit bureau and don’t calculate scores for lenders<\/a>,” Watts said.
\n<\/span><\/p><\/blockquote>\n

What he is saying is
\n– We are Fair Isaac.
\n– We are the FICO score.
\n– Lenders calculate FICO.<\/p>\n

Disclosure: Fair Isaac sent my employer a cease and desist and we posted it on Yelp (there at the California HQ of FICO.) FICO later took down the Yelp review where I cited and source Cheri St John, FICO’s Sr VP.<\/p>\n

May 8, 2017 UPDATE:<\/p>\n

\n

observers say that average FICO score… {page taken down!!!} https:\/\/t.co\/t78WjDPze9<\/a><\/p>\n

\u2014 Larry Chiang (@LarryChiang) May 8, 2017<\/a><\/p><\/blockquote>\n