COSTA MESA, Calif., June 28, 2016 /PRNewswire/ -- Experian®, a global information services company, announced today that for the first time, Freddie Mac investors will have the advantage of additional transparency in the evaluation of investment decisions. Freddie Mac will leverage FICO® Scores calculated from Experian consumer credit data for loan-level disclosures to investors, providing the information needed to better assess the value of Credit Risk Transfer securities.
"Experian is investing in products and services, including trended data, for the mortgage finance system and we are very pleased to be working closely with Freddie Mac, a pillar in the mortgage community," said Michele Raneri, Vice President of Analytics and Mortgage Business Development at Experian. "Freddie Mac investors will now have access to data that levels the playing field for the assessment of investment instruments."
"The availability of loan-level data along with FICO Scores is transformative for our investors," said Michael Reynolds, Vice President, Credit Risk Transfers. "FICO Scores calculated from Experian consumer credit data and other credit risk tools help our investors to assess the value of securities while protecting the privacy of the underlying borrowers, which is vital to our mission."
Experian is also investing in making trended data available for the mortgage market. While this data is available as appended data in a variety of its credit products today, Experian plans to make this data available in real time November of this year.
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score and protect against identity theft. In 2015, we were named one of the "World's Most Innovative Companies" by Forbes magazine.
We employ approximately 17,000 people in 37 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2016, was US$4.6 billion.
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. FICO is a trademark or registered trademark of Fair Isaac Corporation. Other product and company names mentioned herein are the property of their respective owners.
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