There are many individuals that are currently invisible to lenders who would make great customers. Two credit-scoring companies have come up with ways to enable lenders to consider these consumers, who number in the millions, as potential customers for loans.
FactorTrust of Roswell, GA, says it has credit information on more than 10 million nonprime customers that the Big Three credit bureaus – Transunion, Experian and Equifax – don’t. It also provides its own proprietary auto finance risk scores.
