FICO Score definition

FICO Score. A statistical credit score obtained by mortgage lenders in connection with the loan application to help assess a borrower's credit worthiness.

FICO Score means a score based on the credit risk rating system established and maintained by the Fair Xxxxx Corporation.

FICO Score means the credit score of the Mortgagor provided by Fair, Xxxxx & Company, Inc. or such other organization providing credit scores on or immediately prior to the Origination Date of a Mortgage Loan.

Examples of FICO Score in a sentence

• The requirements of this clause (j) shall not apply to any changes to the Credit Policy and the Collection Policy that relate to the adoption of VantageScore and/or facilitate the transition from FICO® Score to VantageScore; provided that the Servicer shall provide the Administrative Agent and each Lender with an updated Credit Policy as it relates to the same within a reasonable period of time after the adoption thereof.

• Notwithstanding anything herein to the contrary, the requirements of this clause (j) shall not apply to any changes to the Credit Policy and the Collection Policy made within thirty (30) days of the First Amendment Effective Date that relate to the adoption of VantageScore and/or facilitate the transition from FICO® Score to VantageScore.

• Notwithstanding anything herein to the contrary, the requirements of this clause (j) shall not apply to any changes to the Credit Policy and the Collection Policy that relate to the adoption of VantageScore and/or facilitate the transition from FICO® Score to VantageScore.

More Definitions of FICO Score

FICO Score means, with respect to an Obligor of a Receivable, the credit score of the Obligor of a Receivable based on methodology developed by Fair Xxxxx Corporation and used by a Seller or its agents to determine credit risk when underwriting such Receivable. For purposes of clarification, the “FICO Score” of any Obligor shall mean the most recent FICO Score used to make a credit decision with respect to such Obligor, by the Borrower or the applicable Seller, as the case may be.

FICO Score. The credit evaluation scoring methodology developed by Fair, Isaax xxx Company.

FICO Score means, in respect of any Customer, a credit score obtained from (a) Experian Information Solutions, Inc., (b) Transunion, LLC or (c) Equifax Inc., in each case, as obtained on or about the date such Customer entered into, or took an assignment of, such Customer Agreement.

FICO Score means, with respect to any Mortgagor, the statistical credit score prepared by Fair Xxxxx Corporation, Experian Information Solutions, Inc., TransUnion LLC or such other Person as may be approved in writing by Buyer in its sole discretion.

FICO Score means a statistical credit score obtained by many mortgage lenders in connection with a loan application to help assess a borrower’s creditworthiness. A FICO Score is generated by models developed by a third party and made available to lenders through three (3) national credit bureaus. The FICO Score is based on a borrower’s historical credit data, including, among other things, payment history, delinquencies on accounts, levels of outstanding indebtedness, length of credit history, types of credit and bankruptcy experience.

FICO Score. The credit score of the Mortgagor provided by Fair, Xxxxx & Company, Inc. or such other organization providing credit scores on the origination date of a Mortgage Loan; provided, that if (a) two separate credit scores are obtained on such origination date, the FICO Score shall be the lower credit score; and (b) three separate credit scores are obtained on such origination date, the FICO Score shall be the middle credit score.

FICO Score means the Fair Xxxxx & Company or similar computer analytical objective scoring model ascertaining a borrower’s credit reputation based on a scale of 350-900, the lower the number, the greater the probability of default.