WEBVTT
00:00:01.280 --> 00:00:05.839
Overall balances remain steady as consumer credit remains stable.
00:00:06.000 --> 00:00:11.839
But hold the phones, month over month delinquencies rise, suggesting near-term payment pressure.
00:00:12.080 --> 00:00:14.560
I'm Jeff Richardson, host of Credit Gage Live.
00:00:14.640 --> 00:00:18.239
And as always, I'm joined by my colleague and lead analyst Attif Mursa.
00:00:18.399 --> 00:00:30.320
We are joining you live from the exhibit hall at ABS East for a very special edition of Credit Gage Live, the largest capital markets conference in the United States that covers asset backed securities.
00:00:30.480 --> 00:00:33.119
Atif, great to have you here in Miami.
00:00:33.280 --> 00:00:34.159
Thank you for having me.
00:00:34.320 --> 00:00:38.799
All right, so Atif, what can you tell us about consumer balances and how are consumers faring?
00:00:39.119 --> 00:00:39.920
Thank you, Jeff.
00:00:40.079 --> 00:00:45.679
So the encouraging news this month is that the consumers are uh dealing with their debt levels really well.
00:00:45.840 --> 00:00:52.159
Uh when we look at the balance and loan ratios, they decline to a 12-month low to 40, 49.5 uh percent.
00:00:52.320 --> 00:00:58.240
So the big takeaway is that consumer balances are steady, but the leverage is also coming down.
00:00:58.560 --> 00:01:01.520
So delinquencies were seeing some uptick there.
00:01:01.679 --> 00:01:03.119
Is that something we should be concerned about?
00:01:03.359 --> 00:01:08.879
Yes, in September we saw an early state delinquencies slightly rise compared to last year.
00:01:08.959 --> 00:01:13.599
Uh however, this is not a sign uh where we see a broad-based deterioration.
00:01:13.760 --> 00:01:17.280
Now, uh it suggests that some consumers may be feeling the pressure.
00:01:17.599 --> 00:01:21.040
We continue to watch that uh signal uh in in credit gauge.
00:01:21.280 --> 00:01:31.040
So one of the things um a lot of lenders and um investors, we're here at ABSE, so so we want to think about um the uh asset back security market in particular.
00:01:31.200 --> 00:01:40.560
Investors are really concerned about shifting consumer credit profiles, how many consumers are shifting from one credit tier to the next, prime to superprime.
00:01:40.640 --> 00:01:41.760
What are the trends you're seeing there?
00:01:42.000 --> 00:01:47.599
Overall, this population distribution, this is a metric that we specifically watch in Mattiscore credit gauge.
00:01:47.680 --> 00:01:50.799
And what we saw month over month, there isn't much change.
00:01:50.879 --> 00:01:54.159
Uh the population distribution is pretty steady among the credit tiers.
00:01:54.480 --> 00:02:06.079
Uh, however, when we look at a longer-term view, a two-year view, what we saw was that a uh from Matuscore Prime segment, we saw a shift moving downwards into near prime and uh subprime segments.
00:02:06.239 --> 00:02:06.400
Okay.
00:02:06.560 --> 00:02:18.879
Now, this is something we specifically uh want to watch closely because this would have impact for lenders, uh especially or for consumers, also from a uh borrowing cost perspective, uh how lenders assess risk.
00:02:19.120 --> 00:02:25.280
Uh so so again, uh not a uh not a clear sign of shift uh uh in population distribution.
00:02:25.360 --> 00:02:27.759
However, this is something we again we continue to watch.
00:02:28.080 --> 00:02:29.759
Absolutely, we should watch that.
00:02:29.919 --> 00:02:31.520
Well, uh thank you, Aktif.
00:02:31.599 --> 00:02:34.159
Really appreciate your insights this month, as always.
00:02:34.479 --> 00:02:38.159
Really special guest joining us uh after this.
00:02:38.400 --> 00:02:44.240
Straight off the main stage at ABS East will be uh our president and CEO, Silvio Tavares.
00:02:44.560 --> 00:02:50.000
He'll be delivering the keynote address here at ABS East, and right after that, he'll join us on Credit Gauge Live.
00:02:50.080 --> 00:02:51.199
Stick around.
00:03:27.199 --> 00:03:35.680
Interviewed by a senior Financial Times editor, um Jam Pack House, full of issuers, investors, ratings agencies.
00:03:35.840 --> 00:03:39.360
Um, what was the number one key takeaway you wanted to leave them with?
00:03:39.599 --> 00:03:46.560
Well, the biggest takeaway is simply this for the first time, and it's a historic time, you have a choice.
00:03:46.800 --> 00:03:51.840
You can choose to use vantage score, and you didn't have that choice in the past.
00:03:52.080 --> 00:03:54.240
So that's the biggest takeaway.
00:03:55.039 --> 00:04:00.560
Investors, lenders, now you have a choice to use vanish core you didn't before.
00:04:00.960 --> 00:04:07.840
And the question that I left the audience with is will you be left behind if you don't use vantage score?
00:04:08.159 --> 00:04:24.720
For many of the largest lenders, many of the largest investors, uh, including companies like Rocket Mortgage, Chase, Toyota Motor Credit, the largest investors like PIMCO, KKR, Wellington, they've made that choice and they've chosen Vantage Score.
00:04:24.800 --> 00:04:25.279
That's right.
00:04:25.519 --> 00:04:29.680
Because we're in an environment where sometimes risk is harder to predict right now.
00:04:29.839 --> 00:04:31.680
And so you were asked about this on stage.
00:04:31.839 --> 00:04:34.720
How would you characterize the health of the American consumer today?
00:04:34.959 --> 00:04:42.800
If you look at our September credit gauge, what you see is that the average vantage score is 701.
00:04:43.279 --> 00:04:48.480
A low, in fact, the lowest vantage score is 300, the highest vantage score is 850.
00:04:49.040 --> 00:04:52.240
So ending September with a 701 is a great result.
00:04:52.399 --> 00:04:53.759
Consumers are credit healthy.
00:04:53.920 --> 00:04:57.519
When you look underneath that number, you see even more remarkable things.
00:04:57.759 --> 00:05:03.120
So overall, the delinquency rate for early stage delinquency is stable.
00:05:03.279 --> 00:05:09.279
So you're not seeing a lot of consumers take out a credit card or an auto loan and then immediately go delinquent.
00:05:09.360 --> 00:05:10.319
That's a healthy sign.
00:05:10.480 --> 00:05:13.199
But the even more positive sign is credit utilization.
00:05:13.279 --> 00:05:13.680
Sure.
00:05:13.759 --> 00:05:28.000
Um, even though the total amount of credit has increased on a year-over-year basis, if you actually look at the credit utilization rate, so that's the percentage of credit that's being used by the consumer, that's actually lower on a year-over-year rate.
00:05:28.079 --> 00:05:30.800
So consumers are remarkably disciplined.
00:05:30.959 --> 00:05:35.920
And by the way, when you are typically in a stress period for a consumer, you see the opposite.
00:05:36.000 --> 00:05:41.360
You see consumers maxing out their credit card line, getting that utilization rate well above 50%.
00:05:41.839 --> 00:05:43.279
We are not seeing that now.
00:05:43.439 --> 00:05:48.399
So a very healthy and positive read on the last of the underscore credit gauge for the consumer.
00:05:48.639 --> 00:05:49.120
Absolutely.
00:05:49.199 --> 00:05:54.480
And headed into the important holiday shopping period, uh, that's that's a really important sign.
00:05:54.720 --> 00:05:56.879
Uh, but then let's let's dig a little deeper.
00:05:56.959 --> 00:06:02.720
Um, you know, of course, credit gauge looks at all credit products, auto, card, personal loans, mortgages.
00:06:02.959 --> 00:06:07.600
So, where do you see the greatest risks or opportunities kind of looking into this last quarter?
00:06:07.920 --> 00:06:13.680
Well, I honestly I see the the risk and opportunities more from a macro perspective, right?
00:06:13.920 --> 00:06:26.480
So if you're a lender and you're using Vantage Score, because we use 400% more data, because we use alternative data like rental payments, you're actually gonna see the trend on the consumer, whether they're doing better or worse.
00:06:26.560 --> 00:06:28.399
You're gonna see that trend earlier.
00:06:28.639 --> 00:06:40.319
So, on a macro basis, where I see the risk is lenders, investors that are actually using our competitors' legacy obsolete credit score, they're not gonna see the trend.
00:06:40.399 --> 00:06:41.360
They're gonna miss it.
00:06:41.600 --> 00:06:48.079
And uh the problem with that is you're gonna be making loans if you're a lender to the wrong consumers at the wrong time.
00:06:48.240 --> 00:06:55.040
And if you're an investor, you're gonna miss time the market and you're gonna be investing in areas where you don't have full transparency.
00:06:55.199 --> 00:07:10.399
So the solution to both of those risks, uh, Jeff, quite frankly, is use vantage score and use tools like vanish score credit gauge and vantage score risk ratio, which are gonna give you the most precise read on the consumer risk, and you're gonna get it in high frequency real time.
00:07:10.879 --> 00:07:17.759
Well, so uh sounds like both the risk and the opportunity lies in the analytics and the in and the model.
00:07:18.000 --> 00:07:18.720
Um, all right.
00:07:18.800 --> 00:07:23.040
So so you were also asked on stage about Vantage Gore's growth.
00:07:23.120 --> 00:07:27.040
Uh, and I think you used the the the term rocket ship.
00:07:27.199 --> 00:07:30.399
So can you characterize the the growth that Vantage Core has seen?
00:07:30.560 --> 00:07:38.720
Um and how do you think credit scores um have evolved to help uh issuers make better decisions and investors make better decisions?
00:07:39.040 --> 00:07:46.160
Well, yeah, and and I think I have to kind of give the props to rocket mortgage, that's where that term gang world is subliminal messaging in some ways.
00:07:46.319 --> 00:07:46.480
Right.
00:07:46.639 --> 00:07:52.560
Well, and and the reason I highlight that is uh Vantage Core has made a huge entree into the mortgage market.
00:07:52.720 --> 00:07:59.279
Uh for those who don't know, the largest single freted product in the United States is mortgages, as you would expect.
00:07:59.360 --> 00:08:03.600
It's the biggest loan that any bank or financial institution makes to a consumer.
00:08:03.759 --> 00:08:05.279
It's really important for the economy.
00:08:05.600 --> 00:08:08.800
As you know, consumer spending accounts for 70% of our U.S.
00:08:08.879 --> 00:08:12.399
economy, and a huge portion of that is tied to home purchases.
00:08:12.639 --> 00:08:23.120
So the fact that the number one lender in the United States, Rocket Mortgage, not only uses Vantage Score, but we are their preferred credit score, is a big deal.
00:08:23.199 --> 00:08:32.799
And the whole rest of the market is following that lead in mortgages, but also in other credit products like credit cards, like auto loans, like personal loans.
00:08:33.039 --> 00:08:38.720
Uh, so I just see a continued period of substantial growth for Vantage Score.
00:08:38.960 --> 00:08:41.759
And ultimately, that's a really big win.
00:08:41.919 --> 00:08:48.480
It's a big win, not just for our company, it's not just a big win for our company, it's also a big win for the lenders.
00:08:48.799 --> 00:08:58.080
But ultimately, the most important big win is for the American consumer who are getting access to credit when they are actually truly creditworthy.
00:08:58.320 --> 00:08:59.600
Very, very exciting time.
00:08:59.919 --> 00:09:06.480
It is, and and very rewarding from a uh standpoint of being able to do well by by doing good.
00:09:06.639 --> 00:09:08.720
Um, all right, uh last question to you, Silvio.
00:09:08.799 --> 00:09:10.080
Uh, and thank you for joining us.
00:09:10.159 --> 00:09:12.639
Um, so we're looking at 2027.
00:09:12.799 --> 00:09:15.279
Um, we're always looking to innovate.
00:09:15.600 --> 00:09:21.279
What areas of data and analytics excite you about the next chapter for vantage scoring or models?
00:09:21.519 --> 00:09:26.240
Well, uh the reality is there's a it's a golden age of innovation for credit scoring.
00:09:26.320 --> 00:09:30.320
Um, you you may have seen this, Jeff, but some of the viewers may not have.
00:09:30.559 --> 00:09:35.759
Do you want to know who was the first credit score to be used on a Frontier AI LLM?
00:09:35.919 --> 00:09:37.919
Vantage scores on Chat GPT.
00:09:38.000 --> 00:09:39.840
That just happened a couple of weeks ago.
00:09:40.000 --> 00:09:53.120
Um, and we are investing and doubling down on the next generation of scores and technology that will enable lenders to lend more smartly, but also enable consumers to live their best financial lives.
00:09:53.440 --> 00:09:58.960
Just Friday, we put out a press release announcing our vantage score mortgage simulator.
00:09:59.120 --> 00:10:13.200
Yeah, and that's gonna enable a consumer who's close to qualifying for a mortgage, they're gonna actually be able to use different scenarios and get the best recommendations for how they can improve their credit score uh in order to qualify for a mortgage.
00:10:13.360 --> 00:10:26.240
So there's a lot more coming there in terms of using AI, using enhanced data analytics to enable lenders to get the best out of their credit score, but also importantly enabling consumers to get their best with vantage score.
00:10:26.399 --> 00:10:26.720
Absolutely.
00:10:26.879 --> 00:10:32.240
Silvio, thank you for joining Credit Gauge Live here in Miami at ABS East.
00:10:32.559 --> 00:10:36.159
Another incredible day and milestone for Vantage Score.
00:10:36.320 --> 00:10:37.679
Thank you for your leadership in being here.
00:10:37.919 --> 00:10:38.559
Thank you, Jeff.
00:10:38.639 --> 00:10:40.240
And you do a great job on this show.
00:10:40.399 --> 00:10:41.679
I tune in every single month.
00:10:41.759 --> 00:10:42.639
Thanks for having me on.
00:10:42.799 --> 00:10:43.039
Thank you.
00:10:43.120 --> 00:10:46.000
And that'll be it from the floor of ABS East.
00:10:46.240 --> 00:10:51.039
For more information on Credit Gauge, you can download the analysis at vanishescore.com.
00:10:51.200 --> 00:10:52.399
We will see you next month.
00:10:52.559 --> 00:10:53.440
Thank you.
00:00:01.280 --> 00:00:05.839
Overall balances remain steady as consumer credit remains stable.
00:00:06.000 --> 00:00:11.839
But hold the phones, month over month delinquencies rise, suggesting near-term payment pressure.
00:00:12.080 --> 00:00:14.560
I'm Jeff Richardson, host of Credit Gage Live.
00:00:14.640 --> 00:00:18.239
And as always, I'm joined by my colleague and lead analyst Attif Mursa.
00:00:18.399 --> 00:00:30.320
We are joining you live from the exhibit hall at ABS East for a very special edition of Credit Gage Live, the largest capital markets conference in the United States that covers asset backed securities.
00:00:30.480 --> 00:00:33.119
Atif, great to have you here in Miami.
00:00:33.280 --> 00:00:34.159
Thank you for having me.
00:00:34.320 --> 00:00:38.799
All right, so Atif, what can you tell us about consumer balances and how are consumers faring?
00:00:39.119 --> 00:00:39.920
Thank you, Jeff.
00:00:40.079 --> 00:00:45.679
So the encouraging news this month is that the consumers are uh dealing with their debt levels really well.
00:00:45.840 --> 00:00:52.159
Uh when we look at the balance and loan ratios, they decline to a 12-month low to 40, 49.5 uh percent.
00:00:52.320 --> 00:00:58.240
So the big takeaway is that consumer balances are steady, but the leverage is also coming down.
00:00:58.560 --> 00:01:01.520
So delinquencies were seeing some uptick there.
00:01:01.679 --> 00:01:03.119
Is that something we should be concerned about?
00:01:03.359 --> 00:01:08.879
Yes, in September we saw an early state delinquencies slightly rise compared to last year.
00:01:08.959 --> 00:01:13.599
Uh however, this is not a sign uh where we see a broad-based deterioration.
00:01:13.760 --> 00:01:17.280
Now, uh it suggests that some consumers may be feeling the pressure.
00:01:17.599 --> 00:01:21.040
We continue to watch that uh signal uh in in credit gauge.
00:01:21.280 --> 00:01:31.040
So one of the things um a lot of lenders and um investors, we're here at ABSE, so so we want to think about um the uh asset back security market in particular.
00:01:31.200 --> 00:01:40.560
Investors are really concerned about shifting consumer credit profiles, how many consumers are shifting from one credit tier to the next, prime to superprime.
00:01:40.640 --> 00:01:41.760
What are the trends you're seeing there?
00:01:42.000 --> 00:01:47.599
Overall, this population distribution, this is a metric that we specifically watch in Mattiscore credit gauge.
00:01:47.680 --> 00:01:50.799
And what we saw month over month, there isn't much change.
00:01:50.879 --> 00:01:54.159
Uh the population distribution is pretty steady among the credit tiers.
00:01:54.480 --> 00:02:06.079
Uh, however, when we look at a longer-term view, a two-year view, what we saw was that a uh from Matuscore Prime segment, we saw a shift moving downwards into near prime and uh subprime segments.
00:02:06.239 --> 00:02:06.400
Okay.
00:02:06.560 --> 00:02:18.879
Now, this is something we specifically uh want to watch closely because this would have impact for lenders, uh especially or for consumers, also from a uh borrowing cost perspective, uh how lenders assess risk.
00:02:19.120 --> 00:02:25.280
Uh so so again, uh not a uh not a clear sign of shift uh uh in population distribution.
00:02:25.360 --> 00:02:27.759
However, this is something we again we continue to watch.
00:02:28.080 --> 00:02:29.759
Absolutely, we should watch that.
00:02:29.919 --> 00:02:31.520
Well, uh thank you, Aktif.
00:02:31.599 --> 00:02:34.159
Really appreciate your insights this month, as always.
00:02:34.479 --> 00:02:38.159
Really special guest joining us uh after this.
00:02:38.400 --> 00:02:44.240
Straight off the main stage at ABS East will be uh our president and CEO, Silvio Tavares.
00:02:44.560 --> 00:02:50.000
He'll be delivering the keynote address here at ABS East, and right after that, he'll join us on Credit Gauge Live.
00:02:50.080 --> 00:02:51.199
Stick around.
00:03:27.199 --> 00:03:35.680
Interviewed by a senior Financial Times editor, um Jam Pack House, full of issuers, investors, ratings agencies.
00:03:35.840 --> 00:03:39.360
Um, what was the number one key takeaway you wanted to leave them with?
00:03:39.599 --> 00:03:46.560
Well, the biggest takeaway is simply this for the first time, and it's a historic time, you have a choice.
00:03:46.800 --> 00:03:51.840
You can choose to use vantage score, and you didn't have that choice in the past.
00:03:52.080 --> 00:03:54.240
So that's the biggest takeaway.
00:03:55.039 --> 00:04:00.560
Investors, lenders, now you have a choice to use vanish core you didn't before.
00:04:00.960 --> 00:04:07.840
And the question that I left the audience with is will you be left behind if you don't use vantage score?
00:04:08.159 --> 00:04:24.720
For many of the largest lenders, many of the largest investors, uh, including companies like Rocket Mortgage, Chase, Toyota Motor Credit, the largest investors like PIMCO, KKR, Wellington, they've made that choice and they've chosen Vantage Score.
00:04:24.800 --> 00:04:25.279
That's right.
00:04:25.519 --> 00:04:29.680
Because we're in an environment where sometimes risk is harder to predict right now.
00:04:29.839 --> 00:04:31.680
And so you were asked about this on stage.
00:04:31.839 --> 00:04:34.720
How would you characterize the health of the American consumer today?
00:04:34.959 --> 00:04:42.800
If you look at our September credit gauge, what you see is that the average vantage score is 701.
00:04:43.279 --> 00:04:48.480
A low, in fact, the lowest vantage score is 300, the highest vantage score is 850.
00:04:49.040 --> 00:04:52.240
So ending September with a 701 is a great result.
00:04:52.399 --> 00:04:53.759
Consumers are credit healthy.
00:04:53.920 --> 00:04:57.519
When you look underneath that number, you see even more remarkable things.
00:04:57.759 --> 00:05:03.120
So overall, the delinquency rate for early stage delinquency is stable.
00:05:03.279 --> 00:05:09.279
So you're not seeing a lot of consumers take out a credit card or an auto loan and then immediately go delinquent.
00:05:09.360 --> 00:05:10.319
That's a healthy sign.
00:05:10.480 --> 00:05:13.199
But the even more positive sign is credit utilization.
00:05:13.279 --> 00:05:13.680
Sure.
00:05:13.759 --> 00:05:28.000
Um, even though the total amount of credit has increased on a year-over-year basis, if you actually look at the credit utilization rate, so that's the percentage of credit that's being used by the consumer, that's actually lower on a year-over-year rate.
00:05:28.079 --> 00:05:30.800
So consumers are remarkably disciplined.
00:05:30.959 --> 00:05:35.920
And by the way, when you are typically in a stress period for a consumer, you see the opposite.
00:05:36.000 --> 00:05:41.360
You see consumers maxing out their credit card line, getting that utilization rate well above 50%.
00:05:41.839 --> 00:05:43.279
We are not seeing that now.
00:05:43.439 --> 00:05:48.399
So a very healthy and positive read on the last of the underscore credit gauge for the consumer.
00:05:48.639 --> 00:05:49.120
Absolutely.
00:05:49.199 --> 00:05:54.480
And headed into the important holiday shopping period, uh, that's that's a really important sign.
00:05:54.720 --> 00:05:56.879
Uh, but then let's let's dig a little deeper.
00:05:56.959 --> 00:06:02.720
Um, you know, of course, credit gauge looks at all credit products, auto, card, personal loans, mortgages.
00:06:02.959 --> 00:06:07.600
So, where do you see the greatest risks or opportunities kind of looking into this last quarter?
00:06:07.920 --> 00:06:13.680
Well, I honestly I see the the risk and opportunities more from a macro perspective, right?
00:06:13.920 --> 00:06:26.480
So if you're a lender and you're using Vantage Score, because we use 400% more data, because we use alternative data like rental payments, you're actually gonna see the trend on the consumer, whether they're doing better or worse.
00:06:26.560 --> 00:06:28.399
You're gonna see that trend earlier.
00:06:28.639 --> 00:06:40.319
So, on a macro basis, where I see the risk is lenders, investors that are actually using our competitors' legacy obsolete credit score, they're not gonna see the trend.
00:06:40.399 --> 00:06:41.360
They're gonna miss it.
00:06:41.600 --> 00:06:48.079
And uh the problem with that is you're gonna be making loans if you're a lender to the wrong consumers at the wrong time.
00:06:48.240 --> 00:06:55.040
And if you're an investor, you're gonna miss time the market and you're gonna be investing in areas where you don't have full transparency.
00:06:55.199 --> 00:07:10.399
So the solution to both of those risks, uh, Jeff, quite frankly, is use vantage score and use tools like vanish score credit gauge and vantage score risk ratio, which are gonna give you the most precise read on the consumer risk, and you're gonna get it in high frequency real time.
00:07:10.879 --> 00:07:17.759
Well, so uh sounds like both the risk and the opportunity lies in the analytics and the in and the model.
00:07:18.000 --> 00:07:18.720
Um, all right.
00:07:18.800 --> 00:07:23.040
So so you were also asked on stage about Vantage Gore's growth.
00:07:23.120 --> 00:07:27.040
Uh, and I think you used the the the term rocket ship.
00:07:27.199 --> 00:07:30.399
So can you characterize the the growth that Vantage Core has seen?
00:07:30.560 --> 00:07:38.720
Um and how do you think credit scores um have evolved to help uh issuers make better decisions and investors make better decisions?
00:07:39.040 --> 00:07:46.160
Well, yeah, and and I think I have to kind of give the props to rocket mortgage, that's where that term gang world is subliminal messaging in some ways.
00:07:46.319 --> 00:07:46.480
Right.
00:07:46.639 --> 00:07:52.560
Well, and and the reason I highlight that is uh Vantage Core has made a huge entree into the mortgage market.
00:07:52.720 --> 00:07:59.279
Uh for those who don't know, the largest single freted product in the United States is mortgages, as you would expect.
00:07:59.360 --> 00:08:03.600
It's the biggest loan that any bank or financial institution makes to a consumer.
00:08:03.759 --> 00:08:05.279
It's really important for the economy.
00:08:05.600 --> 00:08:08.800
As you know, consumer spending accounts for 70% of our U.S.
00:08:08.879 --> 00:08:12.399
economy, and a huge portion of that is tied to home purchases.
00:08:12.639 --> 00:08:23.120
So the fact that the number one lender in the United States, Rocket Mortgage, not only uses Vantage Score, but we are their preferred credit score, is a big deal.
00:08:23.199 --> 00:08:32.799
And the whole rest of the market is following that lead in mortgages, but also in other credit products like credit cards, like auto loans, like personal loans.
00:08:33.039 --> 00:08:38.720
Uh, so I just see a continued period of substantial growth for Vantage Score.
00:08:38.960 --> 00:08:41.759
And ultimately, that's a really big win.
00:08:41.919 --> 00:08:48.480
It's a big win, not just for our company, it's not just a big win for our company, it's also a big win for the lenders.
00:08:48.799 --> 00:08:58.080
But ultimately, the most important big win is for the American consumer who are getting access to credit when they are actually truly creditworthy.
00:08:58.320 --> 00:08:59.600
Very, very exciting time.
00:08:59.919 --> 00:09:06.480
It is, and and very rewarding from a uh standpoint of being able to do well by by doing good.
00:09:06.639 --> 00:09:08.720
Um, all right, uh last question to you, Silvio.
00:09:08.799 --> 00:09:10.080
Uh, and thank you for joining us.
00:09:10.159 --> 00:09:12.639
Um, so we're looking at 2027.
00:09:12.799 --> 00:09:15.279
Um, we're always looking to innovate.
00:09:15.600 --> 00:09:21.279
What areas of data and analytics excite you about the next chapter for vantage scoring or models?
00:09:21.519 --> 00:09:26.240
Well, uh the reality is there's a it's a golden age of innovation for credit scoring.
00:09:26.320 --> 00:09:30.320
Um, you you may have seen this, Jeff, but some of the viewers may not have.
00:09:30.559 --> 00:09:35.759
Do you want to know who was the first credit score to be used on a Frontier AI LLM?
00:09:35.919 --> 00:09:37.919
Vantage scores on Chat GPT.
00:09:38.000 --> 00:09:39.840
That just happened a couple of weeks ago.
00:09:40.000 --> 00:09:53.120
Um, and we are investing and doubling down on the next generation of scores and technology that will enable lenders to lend more smartly, but also enable consumers to live their best financial lives.
00:09:53.440 --> 00:09:58.960
Just Friday, we put out a press release announcing our vantage score mortgage simulator.
00:09:59.120 --> 00:10:13.200
Yeah, and that's gonna enable a consumer who's close to qualifying for a mortgage, they're gonna actually be able to use different scenarios and get the best recommendations for how they can improve their credit score uh in order to qualify for a mortgage.
00:10:13.360 --> 00:10:26.240
So there's a lot more coming there in terms of using AI, using enhanced data analytics to enable lenders to get the best out of their credit score, but also importantly enabling consumers to get their best with vantage score.
00:10:26.399 --> 00:10:26.720
Absolutely.
00:10:26.879 --> 00:10:32.240
Silvio, thank you for joining Credit Gauge Live here in Miami at ABS East.
00:10:32.559 --> 00:10:36.159
Another incredible day and milestone for Vantage Score.
00:10:36.320 --> 00:10:37.679
Thank you for your leadership in being here.
00:10:37.919 --> 00:10:38.559
Thank you, Jeff.
00:10:38.639 --> 00:10:40.240
And you do a great job on this show.
00:10:40.399 --> 00:10:41.679
I tune in every single month.
00:10:41.759 --> 00:10:42.639
Thanks for having me on.
00:10:42.799 --> 00:10:43.039
Thank you.
00:10:43.120 --> 00:10:46.000
And that'll be it from the floor of ABS East.
00:10:46.240 --> 00:10:51.039
For more information on Credit Gauge, you can download the analysis at vanishescore.com.
00:10:51.200 --> 00:10:52.399
We will see you next month.
00:10:52.559 --> 00:10:53.440
Thank you.
