FICO Is Mostly About To Change Credit Ratings. Here Is Why It Issues

FICO Is Mostly About To Change Credit Ratings. Here Is Why It Issues

The modifications are going to be considerable. The company at the heart of the credit scoring system about 40 million Americans are likely to see their credit scores drop by 20 points or more, and an equal number should go up by as much, according to Joanne Gaskin, vice president of scores and analytics at FICO.

Every 5 years roughly, FICO updates the way it determines fico scores. This time around, the largest modification is in how it treats signature loans, Gaskin states.

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