President Barack Obama Recognizes Nationstar for Helping Protect Consumers
Nationstar Mortgage Holdings Inc. (NYSE:NSM) (“Nationstar”), a leading residential mortgage services provider, was recognized on Friday, February 13, by President Barack Obama for partnering with FICO(R) (NYSE:FICO) , a leading predictive analytics and decision management software company, to join the growing list of companies making FICO(R) Scores available for free to its customers by the end of the year. The acknowledgement came during the White House Summit on Cybersecurity and Consumer Protection at Stanford University.
Through the FICO(R) Score Open Access program, Nationstar customers will have access to the same FICO(R) Scores the company uses to manage their accounts. As part of the Summit, the President noted that by making credit scores more readily available to all Americans, companies like Nationstar are improving consumers’ awareness of credit health and providing them a tool to identify major shifts in their credit score — a key first sign of identity theft. Nationstar Chief Executive Officer Jay Bray thanked President Obama for recognizing the company and noted this is another important step Nationstar is taking to help its more than 2 million mortgage customers.
“Nationstar appreciates the opportunity to partner with FICO(R) and receive this recognition by the President, and we’re honored to take part in a program that can help more homeowners succeed,” said Bray. “By making the credit scores we use available to our customers, we’re empowering them. We’re helping them obtain the information they need to improve their access to credit, make better credit decisions, and guard against credit fraud and identity theft. This supports our initiative to create customers for life by improving the overall customer experience, and we look forward to launching this program later this year.”
“Taking on a home mortgage is the most significant financial commitment many people will ever make,” said Jim Wehmann, executive vice president of Scores at FICO(R). “We are pleased Nationstar has joined the FICO(R) Score Open Access program, which can help homeowners understand how to maintain their credit health by giving them free FICO(R) Scores and valuable insights into the factors that affect their scores.”
Nationstar plans to initiate a pilot program making the credit scores available to some customers via its website, www.nationstarmtg.com, by May. It will then roll out the program to all of its customers by December 31, 2015. Customers will not be charged for this information.
Based in Dallas, Texas, Nationstar earns fees through the delivery of quality servicing, origination and transaction based services related principally to single-family residences throughout the United States. Additional corporate information is available in the investors section of www.nationstarmtg.com.
FICO (NYSE:FICO) is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company’s groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO(R) provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO(R) Score, the standard measure of consumer credit risk in the United States. FICO(R) solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision countTM. Learn more at www.fico.com.
FICO(R) and “Make every decision count” are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
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