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    Credit Scores Demystified: Unraveling FICO

    Wednesday, August 29, 2018 - 12:00 PM - 1:30 PM ET
    $149.00
    *
    When you register for this program you will receive a complimentary Credit Scores Learning Workbook. Let’s face it, for many people credit scores are a mystery. Why does one consumer have a 700+ FICO with late payments and past collections when another consumer’s score, with clean payment history is 50 points lower? And why is the credit score we just pulled for a consumer so much different than the one they received this month from their credit card company? If you have these questions too you are not alone. In this course we are going to dive as deep as we can in an hour and one half, to unravel the mystery behind the FICO credit score. The information provided is invaluable which every employee who works with credit reports and consumers should have.

    When you register for this program you will receive a complimentary Credit Scores Learning Workbook. 

    Overview

    Let’s face it, for many people credit scores are a mystery.  Why does one consumer have a 700+ FICO with late payments and past collections when another consumer’s score, with clean payment history is 50 points lower?  What do the July changes and the omission of tax liens and civil judgments mean for our institution? And, why is the credit score we just pulled for a consumer so much different than the one they received this month from their credit card company?  If you have these questions too you are not alone.

    In this course we are going to dive as deep as we can in an hour and one half, to unravel the mystery behind the FICO credit score.  The information provided is invaluable which every employee who works with credit reports and consumers should have.  

    With over 10 years lending experience - and, the analysis of tens of thousands of credit reports, and hundreds of hours of extensive research - expert Nick Brown is well-positioned to help you crack the FICO algorithm. After attending this webinar, you will be able to (1) Review a credit report and identify the specific factors that drive down a consumer's credit score; (2) Understand the various risk factors associated with a range of credit scores; and, (3) Answer consumer questions about their respective credit scores and provide basic, helpful advice on how to improve credit scores. 

    Covered Topics

    • Credit Score Foundation. Why do we use credit scoring? How has FICO revolutionized and simplified the lending process?
    • Credit Score Variation. Why can scores be different from one institution- or one application- to the next?
    • 5 factors that combine to generate a consumers FICO Score
    • Risk Factors. Learn what a credit score is trying to tell you and why lower scores mean greater risk. Learn about the risks associated with the new July changes
    • Low Score Actions. What behaviors and actions generally sabotage a consumers score and how to fix them
    • Lender Actions. What you may be doing as a lender which is hurting your borrowers credit score
    • Credit Score Myths. The myths about credit scoring, and what doesn’t impact a score

    Who Should Attend?

    If you are a lender, have employees who lend, or deal with questions about credit reports and credit scores this course is for you. 

    This informative session is designed for your Institution's leadership, specifically:

    • Branch Managers
    • Lending Officers
    • Lending Personnel 
    • Training Officers
    • C-Suite Management (CEO, COO, CIO, CSO, CFO)

    Individuals who have taken this course leave feeling more confident in answering questions, advising borrowers, making better lending decisions, and communicate the decisions made with greater understanding. 

    Products specifications
    CE Credits 2.5
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    When you register for this program you will receive a complimentary Credit Scores Learning Workbook. 

    Overview

    Let’s face it, for many people credit scores are a mystery.  Why does one consumer have a 700+ FICO with late payments and past collections when another consumer’s score, with clean payment history is 50 points lower?  What do the July changes and the omission of tax liens and civil judgments mean for our institution? And, why is the credit score we just pulled for a consumer so much different than the one they received this month from their credit card company?  If you have these questions too you are not alone.

    In this course we are going to dive as deep as we can in an hour and one half, to unravel the mystery behind the FICO credit score.  The information provided is invaluable which every employee who works with credit reports and consumers should have.  

    With over 10 years lending experience - and, the analysis of tens of thousands of credit reports, and hundreds of hours of extensive research - expert Nick Brown is well-positioned to help you crack the FICO algorithm. After attending this webinar, you will be able to (1) Review a credit report and identify the specific factors that drive down a consumer's credit score; (2) Understand the various risk factors associated with a range of credit scores; and, (3) Answer consumer questions about their respective credit scores and provide basic, helpful advice on how to improve credit scores. 

    Covered Topics

    • Credit Score Foundation. Why do we use credit scoring? How has FICO revolutionized and simplified the lending process?
    • Credit Score Variation. Why can scores be different from one institution- or one application- to the next?
    • 5 factors that combine to generate a consumers FICO Score
    • Risk Factors. Learn what a credit score is trying to tell you and why lower scores mean greater risk. Learn about the risks associated with the new July changes
    • Low Score Actions. What behaviors and actions generally sabotage a consumers score and how to fix them
    • Lender Actions. What you may be doing as a lender which is hurting your borrowers credit score
    • Credit Score Myths. The myths about credit scoring, and what doesn’t impact a score

    Who Should Attend?

    If you are a lender, have employees who lend, or deal with questions about credit reports and credit scores this course is for you. 

    This informative session is designed for your Institution's leadership, specifically:

    • Branch Managers
    • Lending Officers
    • Lending Personnel 
    • Training Officers
    • C-Suite Management (CEO, COO, CIO, CSO, CFO)

    Individuals who have taken this course leave feeling more confident in answering questions, advising borrowers, making better lending decisions, and communicate the decisions made with greater understanding. 

    Products specifications
    CE Credits 2.5
    Product tags
    Presenter:

    Nick Brown

    Nick Brown is a financial retail sales expert.  He has over 15 years’ experience working in various sales and training positions in the credit union industry.  Currently, he owns Nick Brown Consulting which is dedicated to helping financial institutions understand that sales is their only business.  In his humble opinion, if you are not selling to your members and customers, you are not truly serving their financial needs. 

    In his last 9 years with a large, progressive credit union Nick lead a highly successful outbound sales department with 16 outbound agents selling various products and services.  In 2011 a leading financial research company recognized his team as one of the top outbound call centers in the credit union industry and utilized their structure and performance as a model for other institutions to follow. 

    As a sales consultant, Nick works to deliver effective and customized sales strategies for bank and credit union leadership teams, and industry specific sales training to front line branch and call center employees.  Nick earned his bachelor’s degree from Utah State University in business.  He is the husband to an amazing woman and father to 3 equally amazing children.