FICO Expands Mortgage Simulator With Automated Credit Planning Tools

FICO is expanding its role inside the mortgage origination process with new automated credit planning tools designed to help lenders and LOs more quickly identify borrowers who may qualify for better loan terms.The company announced Tuesday that it has added two new capabilities — FICO Smart Plans and FICO Score Potential — to its FICO Score Mortgage Simulator platform, a tool used by mortgage professionals to model potential changes to a borrower’s credit profile using the classic FICO scores commonly used in mortgage lending.