Le Lézard
Classified in: Business
Subjects: SVY, ACC

LexisNexis Risk Solutions Report Shows Suppressing Liens and Judgments Intelligence Greatly Lessens Credit Risk Decisioning Accuracy


ATLANTA, July 16, 2019 /PRNewswire/ -- LexisNexis® Risk Solutions today revealed that the lack of tax liens and civil judgments information on consumer credit reports places lenders and creditors at a serious disadvantage when assessing consumer creditworthiness. The LexisNexis Risk Solutions study, "How Suppressing Liens and Judgments Intelligence Decreases Decision Accuracy: Impact Report," comes approximately two years after the three major credit bureaus began suppressing liens and judgments data as part of the National Consumer Assistance Plan implementation, which went into effect in July 2017.

LexisNexis Risk Solutions (PRNewsfoto/LexisNexis Risk Solutions)

Without liens and judgments intelligence, lenders and creditors have an incomplete picture of consumer risk, resulting in greater exposure to business losses. The report shows that in a large sample of credit card and auto loans, consumers with liens and judgments represented only 6% of approved population but accounted for 15% of defaulters. While those with liens and judgments represent a relatively small portion of the overall population, they account for a disproportionate percentage of risk.

Key Findings from the Report

"The changes made to credit reporting have clearly affected the lending and credit industry's ability to accurately differentiate between consumers," said Ankush Tewari, vice president, credit risk assessment, LexisNexis Risk Solutions. "Our study shows that consumers with a lien or judgment history factored into their profile pose substantially more risk than credit bureau scores estimate. Factoring in lien and judgment data that allows for a more comprehensive view better positions businesses to make more accurate risk decisions and lower charge-off rates while ensuring well-performing consumers and small businesses receive credit scores they need and deserve."

To bridge the gap, the LexisNexis® RiskViewtm Liens & Judgments Report provides lien and civil judgment content for lenders to determine the count, type, dollar amount and other specific details of liens and judgments included in the report. RiskView employs identity-linking technology through LexID®, ensuring businesses are linking the right person to the right record.

Download a copy of the report here.

Solomon Semere, senior director of market planning for LexisNexis Risk Solutions, is hosting a webinar on July 17, 2019 at 2:00pm ET to review report findings. Register here.

About LexisNexis Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com, and www.relx.com.

Media Contact:
Marcy Theobald
678.694.6681
Marcy.Theobald@lexisnexisrisk.com 

SOURCE LexisNexis Risk Solutions


These press releases may also interest you

at 22:20
The Chicago law offices of Lerner and Rowe Injury Attorneys partner with the Vida Abundante Church to host a FREE 1,000 turkey giveaway on Saturday, November 16th. Families are invited to stop by the church located at 1819 S. 54th Ave., Cicero, IL...

at 22:16
Speedcast International Limited , the world's most trusted provider of highly-reliable, fully-managed, remote communication and IT solutions, has signed an agreement with the United Nations Development Program (UNDP) in support of the Department of...

at 22:01
If you’ve run into a considerable amount of cash, or have saved up enough money to feel that you can really make a good investment, before rushing into making any decisions, you need to take a step back and think. Making an investment is a big...

at 21:22
Frax, the world's first algorithmic and fully decentralized stablecoin on the blockchain today announced Stephen Moore, Trump economic advisor and former Federal Reserve nominee, and Ralph Benko, former Reagan deputy general counsel, joined the...

at 21:05
First Foundation Inc. , a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors ("FFA") and First Foundation Bank ("FFB"), announced today its financial results for the quarter and nine months ended...

at 21:00
BlueVoyant, an analytics-driven cybersecurity firm with a mission to protect businesses against sophisticated cyber attackers, announced today the expansion of its operations to the Philippines. BlueVoyant officially opened its new office in Manila...



News published on 16 july 2019 at 08:00 and distributed by: