AllRegs, a publisher of guidelines for the mortgage industry, and FICO, a provider of analytics and decision management technology, have introduced a new FICO National Certification program: the Certified FICO Professional (FICO Pro). This program is designed to recognize individuals who have a strong understanding of FICO scores and how the FICO score impacts both the lender and the consumer.
In order to receive this certification, candidates must agree to a code of ethics and successfully complete three one-hour online courses delivered by AllRegs Academy: Exploring FICO Scores, Analyzing the Credit Report, and Communicating Credit Information.
Certified FICO Professionals (FICO Pro), based on FICO scores and other credit and lending criteria, will understand how FICO scores are created, the categories and data utilized in the credit report and the impact of FICO scores on consumers.
“We are excited to partner with FICO to offer this unique national certification to professionals in the mortgage industry and other credit industries,” said Dan Thoms, senior vice president of AllRegs. “The FICO Pro certification provides a knowledge benchmark for individuals who assess credit risk and how that risk impacts their company and customers.”
“Because extending credit always involves risk, FICO scores play a pivotal role for both lenders and borrowers in most credit decisions,” said Robert Duque-Ribeiro, vice president and general manager of Scores for FICO. “That’s why it is crucial that lenders, mortgage professionals and their service representatives understand how FICO scores do their work of assessing credit risk. The knowledge provided by the new AllRegs curriculum gives financial services professionals the foundation they need to discuss FICO scores confidently and accurately with their borrowers and applicants.”
Registration in the program includes access to all three required courses. FICO Pro certification candidates have 12 months to complete the program from the date of enrollment.
For more information, visit www.allregs.com or www.fico.com.