CRA's Do they ever do credit scoring for lenders etc

bert&ernie

never-in-doubt wrote: »

Ahh but not the one provided by the CRA - that is where I start the arguing because they cannot do it. Well they can using their scoring card but that would mean nothing to the lender because the basis of the scorecard may not be that of the lenders specific requirements meaning the basis for acceptance would be biased and unfair based around data provided by a CRA which immediately puts them into trouble....

Make sense...?

Not really, I think this is where we usually start going round in circles.

The CRA has a scorecard, which it uses to compute a score based on that individuals bureau file.

The lender doesn't know how the scorecard is constructed - they just get the score. Its up to the lender work out how predictive they think it is and what to do with it.

To this end, the CRA may make its scores available to the lender for retrospective analysis against its existing book.

This is where we need a risk manager like Ritchie74 explain everything.

bert&ernie

never-in-doubt wrote: »

Have a mooch here, interesting read: http://news.zdnet.co.uk/communications/0,1000000085,39640222,00.htm

Cant see what this has to do with CRAs specifically. More than happy to discuss Phorm, but I think would take the thread off topic.

bert&ernie

bert&ernie wrote: »

Not really, I think this is where we usually start going round in circles.

The CRA has a scorecard, which it uses to compute a score based on that individuals bureau file.

The lender doesn't know how the scorecard is constructed - they just get the score. Its up to the lender work out how predictive they think it is and what to do with it.

To this end, the CRA may make its scores available to the lender for retrospective analysis against its existing book.

This is where we need a risk manager like Ritchie74 explain everything.

I've PM'd Ritchie74 to see if he can add anything. In the meantime, do you have anything to say in response NiD?

never-in-doubt

bert&ernie wrote: »

I've PM'd Ritchie74 to see if he can add anything. In the meantime, do you have anything to say in response NiD?

I'm awaiting response from CRA's - what does Ritchie do, work for a CRA? If not then he'd not know, anymore than you and I......

I am sticking to my guns using logic and laws with knowledge of the system, you're using google to search and try to combat the CRA's processes with risk and ritchie - well i'm unsure as to his involvement but would love it if he worked for the CRA's....

bert&ernie

never-in-doubt wrote: »

I'm awaiting response from CRA's - what does Ritchie do, work for a CRA? If not then he'd not know, anymore than you and I......

I am sticking to my guns using logic and laws with knowledge of the system, you're using google to search and try to combat the CRA's processes with risk and Ritchie - well I'm unsure as to his involvement but would love it if he worked for the CRA's....

Thanks for getting back to the thread, I know your are busy doing good work on other threads.

From his posts here, I believe Ritchie works for a major lender as a risk manager. I too, work for a major lender, but I don't have any specialist risk knowledge - I work in IT, but have a very good knowledge of lending technology, processes and data - especially those relating to the credit cards business.

I wont deny that I do know how to make a google search, but the trick is having enough working knowledge to know what search terms to use and how to interpret the results. I don't expect you to accept my opinions as fact, so where possible I will try to use publicly available information to make my points. In that respect, I make no apologies for using sources that anyone could find using google.

You say you are using logic, but I respectfully suggest that you are, in fact, using rhetoric. You have actually failed to address any of the specific points I have made in previous posts, preferring to concentrate on irrelevant issues like professional background and how I might source my references. To be honest, I think I may be flattering you - your argument is floundering and you are clutching at straws to avoid admitting that you wrong.

There is no shame in being wrong, but it doesn't do your reputation any favours if you insist on being stubbornly pig headed in not accepting it.

bert&ernie

Sorry if my last post was a little combative - I don't want to turn this into the proverbial "slanging match" that so often occurs. We agree on many points, just not this one.

I am genuinely interested in whatever response you get from the ICO. Could you please post the text of your original question?

never-in-doubt

bert&ernie wrote: »

Thanks for getting back to the thread, I know your are busy doing good work on other threads.

From his posts here, I believe Ritchie works for a major lender as a risk manager. I too, work for a major lender, but I don't have any specialist risk knowledge - I work in IT, but have a very good knowledge of lending technology, processes and data - especially those relating to the credit cards business.

I wont deny that I do know how to make a google search, but the trick is having enough working knowledge to know what search terms to use and how to interpret the results. I don't expect you to accept my opinions as fact, so where possible I will try to use publicly available information to make my points. In that respect, I make no apologies for using sources that anyone could find using google.

You say you are using logic, but I respectfully suggest that you are, in fact, using rhetoric. You have actually failed to address any of the specific points I have made in previous posts, preferring to concentrate on irrelevant issues like professional background and how I might source my references. To be honest, I think I may be flattering you - your argument is floundering and you are clutching at straws to avoid admitting that you wrong.

There is no shame in being wrong, but it doesn't do your reputation any favours if you insist on being stubbornly pig headed in not accepting it.

I am awaiting clarification from the CRA's - that is fact. I have stated on numerous occasions and maintain my stance (rightly may I add) that I do not need google nor do I have access to a risk manager but I do know how the CRA's work and I also know the laws surrounding them and they cannot (be told will you for crying out loud) measure scores for specific individuals - it is simply not allowed. Nothing you say, do or throw at me will change that. It is a fact and as you are trying to discredit me, maybe you ought to provide facts!

My facts remain:

1. CRA's cannot issue scores for specific individuals - only blanket scores to lenders

2. CRA's cannot credit score for a company/lender but can profile evaluate and offer a scorecard that they can individualise to their organisation

3. CRA's cannot influence any credit related decision other than with facts using historical data that is held on their systems - the cannot provide scores or other models that would directly affect the outcome of an application.

never-in-doubt

p.s. the questions I asked the CRA's are shown above - I have asked the three CRA's and the ICO the same questions, obviously worded differently and in question related context...

never-in-doubt

Can you confirm, you are saying that a CRA can issue a score for a unique individual and therefore have a result on the actual acceptance of that individual right?

Is that what you're saying...? Please clarify cos I have re-read your posts and think we're crossing wires somewhere

bert&ernie

never-in-doubt wrote: »

Can you confirm, you are saying that a CRA can issue a score for a unique individual and therefore have a result on the actual acceptance of that individual right?

Is that what you're saying...? Please clarify cos I have re-read your posts and think we're crossing wires somewhere

CRAs do issues scores based on a specific individual using their own scorecards. They don't make credit decisions, but the scores they provide may be used by the lender to do so.

I'm sure there is a crossed wire or misunderstanding somewhere.

btw, do you have to get up in the morning, cos I do? I've had a !!!!! of a week so far (damned regulatory projects!), but thankfully I'm off on Friday so [STRIKE]tomorrow [/STRIKE]today s the end of the week for me!