FICO® Score Mortgage Simulator (SMS)
The FICO® Score Mortgage Simulator is the only simulator for mortgage professionals that uses the FICO® Score algorithms to simulate changes to FICO Scores used in mortgage decisioning.
This innovative tool allows lenders and mortgage professionals to model credit behavior and understand its impact on a borrower’s FICO® Score – the same score used in mortgage decisions.
What Can You Do With the Simulator
- Paying down credit card balances
- Adding or deleting trade lines
- Paying off collections
- Adjusting credit utilization
Key Benefits:
- Predictive Insights: Based on the actual FICO® Score used in mortgage lending.
- Realistic Planning: Identify strategies to help improve borrower scores.
- Better Conversations: Educate and engage borrowers with clear credit scenarios.
- Fully Integrated: Seamless access via the Advantage Credit platform.
FAQ
YES, the -FICOSCOREMORTGAGESIMULATOR, user level restriction does allow client level management to restrict”user access.”
NO, FICO SMS is seamlessly integrated with MCL and does not required setup or management of additional user logins or systems.
YES, please note that access to the FICO SMS is limted to 30 days from the original date the credit file was ordered.
YES,the FICO SMS may be accessed via an active or interactive link if added to the client’s report layout. (Login is required).
YES, the FICO SMS tool can either be independently activated and managed with other credit tool options enabled at the client account level.
NO, the price point is for all Original Bureau in-files, per Borrower, per in-file within 30 days of the original order date
- Additional per file per Borrower charges may be applied when a Bureau, raw in-file is duplicated under the same file number, previously ordered and sent to the FICO SMS system for review/use.