CoreLogic Credco and FICO signed an agreement to develop new credit risk scoring solutions for the U.S. mortgage industry. The new scoring solutions will leverage the unique data assets within the CoreLogic CoreScore along with FICO’s analytic expertise, to provide lenders increased visibility into borrower credit behavior and future credit risk.

“Lenders today need as much actionable consumer information as possible so they can safely grow origination volumes and avoid future losses,” says Greg Pelling, vice president of Scoring and Analytics for FICO. “CoreLogic’s unique data allows us to lever FICO’s deep analytic expertise and industry-standard mortgage score to create the consumer credit risk insights lenders need in today’s volatile market and for the future.”

The first credit scoring solution will combine the data contained in the CoreScore Credit Report with the FICO 8 Mortgage Score, producing a sharper, predictive view of the consumer, the companies say. Future solutions will build on the first, leveraging application data to deliver additional loan level insight and support more intelligent and consistent lending decisions.