2011.3

   Previous topic Next topic JavaScript is required for the print function Mail us feedback on this topic! Mail us feedback on this topic!  

What's New in Decision Manager 2011.3?

 

►New Risk Models
•Experian Income Insight W2

 

►New Variables

The following new variables are available for use in matrices and custom rules.  Complete definitions for all variables can be found in the Appendix.

 

•Highest Original Loan Amount - Excluding Student Loans
•Highest Original Installment/Mortgage Amount - Excluding Student Loans

 

►Variable Availability Updates
•“Requested Loan Amount” is now available in the Rate Matrix

 

►Dodd-Frank Wall Street Reform and Consumer Protection Act  - New Adverse Action Requirements

The Dodd-Frank Wall Street Reform and Consumer Protection Act, which becomes effective July 21st 2011, requires adverse action and risk based pricing notifications to include disclosure of key factors that adversely affected the credit score.   Notices must include the top four score factors and then a 5th factor when inquiries play a negative part in the score calculation.  To assist our clients in complying with this requirement, we have made the following updates:

 

•Updated the Fast Start scorecard to return a 5th score factor (when applicable)
oA fifth score factor will be returned only when the number of inquiries have a negative impact on the score.  If the number of inquiries are already listed in factor 1, 2, 3, or 4, then a 5th score will  not be returned.
oThe score factors are returned to and displayed in the application entry system.

 

•On the Decision Matrix, increased Decline Reasons to top “5” for Fast Start and credit bureau risk models.

 

•When applicable, the score factors will be available in the application entry system as decision/adverse action reasons.

 

►Credit Bureau Setup Changes for Experian Parallel Profile

Added configuration to make the Experian Parallel Profile optional

 

•Currently, we request the Parallel Profile with all Experian credit requests.  We use it to display the text version of the Experian credit report.  With the introduction of our HTML formatted credit report, we no longer require the Parallel Profile.  When Parallel Profile is turned off, you must use the HTML readable credit report.

 

 

oIf “Include Parallel Profile (Experian)” is unchecked, the following confirmation will be displayed.

 

 

 

oIf “Yes” is selected and the change is promoted live, the Parallel Profile will no longer be requested from Experian and the text version of the credit report will not be available on credit reports requested after this change.
oIf “No” is selected, “Include Parallel Profile (Experian)” will remain checked.

Page url: https://decision.cudl.com/help/index.html?2011_3.htm