Lender*VP Forms completed the annual update for its risk-based pricing forms (The Price You Pay for Credit). The graphs and scoring ranges have been updated with the 2019 FICO information received from the credit bureaus for each FICO model supported. The CU*Answers lending division also included the new graphs to support the new Vantage Score models. These will be available in the 20.07 Release of CU*BASE®.
Lender*VP Forms offers two custom loan forms (the “Consumer Price You Pay for Credit” and the “Real Estate Price You Pay for Credit”) to credit unions who use risk-based pricing to satisfy Reg V. With these forms, a “No Score” form will automatically print if a credit score is not available. Thanks to the cooperative resources of the network, these forms are available at prices well below market average.
Credit unions that are interested in utilizing these forms or would like more information can reach out to the Lender*VP team.