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Fair, Isaac Unveils New CrediTable Models

5 June 1998

Fair, Isaac Unveils New CrediTable Models for Auto Leasing, Home Equity and Retail Lending

    SAN RAFAEL, Calif., June 4 -- Fair, Isaac and Company, Inc.
announced today new CrediTable(R) credit application models
targeted for auto leasing, home equity and retail -- the first of a new group
of Special Portfolio models. These pooled-data models make it possible for
U.S. credit grantors who lack the extensive history required for empirical
custom model development to apply application scoring quickly to these three
portfolios.
    "Fair, Isaac's Special Portfolio models, delivered in a fraction of the
time required for custom development, let credit grantors realize the benefits
of decisioning technology immediately," explained John Pinney, analytics
marketing manager, Fair, Isaac. "Similar to other CrediTable models, they are
pre-developed and empirically derived using pooled data representative of the
industry for which the model was developed."
    These off-the-shelf models were developed to meet demand from credit
grantors who do not have significant application population data to warrant
custom model development or are not served by generic models. The models
enable credit grantors to quickly launch new products or tighten up risk
management programs without costly time delays. CrediTable models make it
possible to apply application scoring almost immediately; models can be
delivered in as little as four weeks. Pricing is usage-based.

    Special Portfolio Models
    The new CrediTable models are the first in a new series of
empirically-derived pooled data models tailored for highly refined credit
decision support in specific industries. They offer greater refinement than is
currently available in Fair, Isaac's other CrediTable models, which are geared
to loan types (revolving, direct, indirect) but not to industry. The models
were developed on national samples that include both application and credit
bureau characteristics.

    * The Home Equity model was developed using data from banks and finance
companies. It is applicable for a wide range of home equity lines and loan
types.
    * The Auto Lease model, also developed with data from banks and finance
companies, can be applied to both new and used vehicles and also to A, B and C
portfolios. This model includes a variety of lease terms as well.
    * The Retail model is a combination of retail and private label
information. It is appropriate for financing items such as furniture, jewelry,
electronics, appliances, and clothing.

    Since 1956, Fair, Isaac has helped businesses maximize the value of data
for strategic decision making. The company pioneered the use of credit scoring
in consumer and commercial lending. Today, Fair, Isaac provides data-driven
decision-making solutions including data management, analytic tools, software
and consulting to businesses in financial services, direct marketing, personal
lines insurance, retail, and telecommunications. Headquartered in San Rafael,
Calif., Fair, Isaac employs more than 1300 people in 16 offices worldwide. For
the fiscal year ended September 30, 1997, the company reported revenues of
$199 million, a 28 percent increase over the prior year.
    For more information, call Fair, Isaac at 1-800-999-2955.