VantageScore Credit Scoring Model Adds to Flexibility of Yardi Resident Screening
Santa Barbara, Calif.—Yardi announced today that its proven rules-based resident screening solution, Yardi Resident Screening, now includes VantageScore credit scores, an advanced numerical scoring option from Experian for clients who prefer three-digit credit scores to help qualify applicants.
Developed by VantageScore Solutions in cooperation with the three national credit reporting agencies (CRAs)—Equifax, ExperianÂ®, and TransUnion—VantageScore is the only credit score model to employ the same characteristic information and the same model at each of the three CRAs, so any score differences can be attributed to differences in the data in each consumer’s credit file. A model that levels credit behavior characteristics creates a more consistent picture of a consumer’s credit payment behavior, regardless of which CRA provides the data.
The VantageScore model was built on a national sample of 45 million consumer credit profiles, using advanced segmentation techniques. Because all scorecards are scaled consistently, a given numerical score (three digits) represents the same relative risk level across all three credit reporting agencies. The model also provides a score to tens of millions more consumers than traditional credit score models by more inclusively using information in a consumer’s credit files.