When a mother in Springville, Utah, got a medical bill after her son’s surgery, she realized that the health insurance company hadn’t covered the cost of anesthesia, and she couldn’t afford to pay it herself. The debt went into collections, and when she was served a lawsuit, she didn’t answer–meaning that she automatically lost the case, and became responsible not only for the medical debt but the cost of attorney fees.
Im not posting this for any political reasons, but strictly to state that consolidating the collection efforts of defaulted student loans to only 2 debt collectors, is problematic. Especially when those companies have history of abusive behavior
Great event happening this Saturday, make sure to attend
The growing use of blockchain technology in financial services will include a healthy dose of artificial intelligence, as new, automated analytic techniques look for patterns in the “relationship data” about people, contracts and transactions. That merger of two hot tech trends is one of the predictions made by Dr. Scott Zoldi, chief analytics officer at Silicon Valley analytic software firm FICO, and a recognized expert in the field of artificial intelligence.
Why wasn’t this lag discussed more? If Equifax is deemed incompetent for overlooking a vulnerability for four months, wouldn’t they be deemed utterly irresponsible for staying oblivious to it for years? Should we really care about when the vulnerability was disclosed?
#equifax #credit #creditscores #fico #mortgage #breach
FICO has pioneered the development and application of critical technologies behind decision management. These include predictive analytics, business rules management and optimisation, says Vishal Goyal, Country Manager, South Asia, FICO, in conversation with Rashi Aditi Ghosh of Elets News Network (ENN).
According to the tracker, the average FICO score on a closed FHA refinance loans to millennial borrower in November 2016 was 678. This score dropped to 669 in November 2017. The report also indicated that closed VA refinance loans decreased from 725 to 710 year-over-year.
