ScoreNet Offers Additional Data, Monthly Updates to its Customers.

San Francisco -- The Fair Isaac Corp. has expanded its ScoreNet service to offer subscribing banks and businesses their choice of up to 202 credit attributes from Experian consumer credit files, accompanying Fair Isaac scores calculated at Experian.

Subscribers can also now conduct monthly score updates delivered over the Fair Isaac proprietary network.

Monthly credit score updates give lenders more up-to-date risk evaluations of their customers. Lenders use credit file attributes, which provide information from each credit file, such as how many bankcards the person has, to gain a better understanding of their credit status and history.

By greatly expanding the suite of credit file attributes, ScoreNet Service enables subscribers to refine their strategies for decreasing delinquency rates, increasing balances and building stronger customer relationships, according to Fair Isaac.

Barbara Dalmau, product management director for global scoring solutions at Fair Isaac, said the increased frequency of score updates can help loan servicers improve customer management strategies. With ScoreNet, even small lenders can check on their customers' payment status every month, she said.

She told Mortgage Servicing News that the ScoreNet service is just as applicable for mortgage and home-equity portfolio managers as it is for servicers of other types of loans such as credit cards and auto loans.

In the Internet age, consumers are able to make changes in their credit profiles with new transactions more quickly and frequently than ever before, she said. That makes it all the more valuable for loan servicers to be able to track Fair Isaac scores on a monthly basis. Previously, ScoreNet users could only get information on the loans in their accounts updated quarterly or less frequently. Having access to monthly updates allows lenders to make "quicker and more effective decisions" about managing their portfolio, Ms. Dalmau said.