FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2992162299> ?p ?o ?g. }

• W2992162299 startingPage "46" @default.
• W2992162299 abstract "Thomas Jefferson might have a little difficulty getting a home equity loan today, at least if he followed his own advice. He once said, Never spend your money before you have it. While that philosophy has much to recommend it, in the consumer credit-driven U.S. economy, following such a course would make it difficult to extend credit. And in fact many potentially creditworthy bank customers have paid for things only with cash--by choice or by circircumstance. Add to this the surging immigrant population--especially Hispanics--who arrive either lacking credit histories, or being culturally predisposed to paying by cash or check. By 2050, it is predicted that more than one quarter of the population will be made up of largely immigrated Hispanics. To sustain growth and profitability, financial services institutions can't ignore this large and growing credit base. The problem is, the primary way for a financial institution to evaluate a potential customer is to use a consumer report from one or more of the credit reporting agencies: Equifax, Experian or TransUnion. But the credit bureaus presently have no method to incorporate ontime, non-credit payments into the scoring process. This results in what is known as a thin file or no-hit consumer. An agile lender must be prepared to consult alternative sources of information. While these sources may not be available or relevant in every case, an institution can consider such things as: * Utility activity; * Telephone history; * Rental history; and * Rent-to-own activity For example, Con Edison, the primary energy supplier in New York City, has payment histories for more than four million electric and gas consumer and business customers. The information is stored for no less than seven years. Likewise, Qwest and SBC Communications, with a combined customer base of nearly 50 million telephone numbers, retain payment records for an average of seven years. Four sources of data Rather than build systems and data interfaces for each alternative source, a financial institution may find that utilizing a third party vendor can make data gathering and analysis easier and potentially more profitable. Shown in the chart on page 48 is an outline of the offerings of four providers: Pay Rent, Build Credit; Fair Isaac; LexisNexis; and eFunds. We'll look at each of these. 1. Pay Rent, Build Credit. Based in Annapolis, Maryland, Pay Rent, Build Credit, Inc. (PRBC) is a credit bureau that has been designated by the Federal Reserve Board and the New York State Banking Department as a community development service, under the Community Reinvestment Act. This means that banks that assist their low and moderate income customers to build a credit history with rental payments data by reporting to PRBC receive favorable consideration from banking regulators. PRBC operates a program that allows users to build a credit history by having their rental and other bill payment activity tracked so that they can be scored. This can occur in three different ways: 1. Consumers take their historical bill payment information to a number of verification partners for entry into the PRBC database establishing past payment habits and a PRBC Bill Payment Score (BPS). 2. Users request that landlords and other payees, such as telecoms, utilities and internet service providers report to PRBC as payments are received. 3. PRBC is working to partner with larger banks, credit unions and bill-pay services so that payment data processed is reported to the PRBC database. After the consumer data is collected, it can be sold as a consumer report for permissible purposes under the Fair Credit Reporting Act to a financial services institution directly, or licensed for resale through the credit bureaus. Subsequently this data can be incorporated along with existing information into the consumer credit reports. …" @default.
• W2992162299 created "2019-12-13" @default.
• W2992162299 creator A5050380567 @default.
• W2992162299 date "2005-01-01" @default.
• W2992162299 modified "2023-09-23" @default.
• W2992162299 title "How to Reach the Growing 'Thin File' Market: Huge Immigrant Market and Other Groups with Little or No Credit History May Be Creditworthy. There Are Several Ways to Tap This Well of Business" @default.
• W2992162299 hasPublicationYear "2005" @default.
• W2992162299 type Work @default.
• W2992162299 sameAs 2992162299 @default.
• W2992162299 citedByCount "0" @default.
• W2992162299 crossrefType "journal-article" @default.
• W2992162299 hasAuthorship W2992162299A5050380567 @default.
• W2992162299 hasConcept C10138342 @default.
• W2992162299 hasConcept C144024400 @default.
• W2992162299 hasConcept C144133560 @default.
• W2992162299 hasConcept C145097563 @default.
• W2992162299 hasConcept C149923435 @default.
• W2992162299 hasConcept C162118730 @default.
• W2992162299 hasConcept C162324750 @default.
• W2992162299 hasConcept C178350159 @default.
• W2992162299 hasConcept C24308983 @default.
• W2992162299 hasConcept C2777764128 @default.
• W2992162299 hasConcept C2908647359 @default.
• W2992162299 hasConcept C2983355114 @default.
• W2992162299 hasConcept C68842666 @default.
• W2992162299 hasConceptScore W2992162299C10138342 @default.
• W2992162299 hasConceptScore W2992162299C144024400 @default.
• W2992162299 hasConceptScore W2992162299C144133560 @default.
• W2992162299 hasConceptScore W2992162299C145097563 @default.
• W2992162299 hasConceptScore W2992162299C149923435 @default.
• W2992162299 hasConceptScore W2992162299C162118730 @default.
• W2992162299 hasConceptScore W2992162299C162324750 @default.
• W2992162299 hasConceptScore W2992162299C178350159 @default.
• W2992162299 hasConceptScore W2992162299C24308983 @default.
• W2992162299 hasConceptScore W2992162299C2777764128 @default.
• W2992162299 hasConceptScore W2992162299C2908647359 @default.
• W2992162299 hasConceptScore W2992162299C2983355114 @default.
• W2992162299 hasConceptScore W2992162299C68842666 @default.
• W2992162299 hasIssue "1" @default.
• W2992162299 hasLocation W29921622991 @default.
• W2992162299 hasOpenAccess W2992162299 @default.
• W2992162299 hasPrimaryLocation W29921622991 @default.
• W2992162299 hasRelatedWork W1528015036 @default.
• W2992162299 hasRelatedWork W1536372831 @default.
• W2992162299 hasRelatedWork W1879613199 @default.
• W2992162299 hasRelatedWork W2011621228 @default.
• W2992162299 hasRelatedWork W2016759508 @default.
• W2992162299 hasRelatedWork W2053431845 @default.
• W2992162299 hasRelatedWork W2079211952 @default.
• W2992162299 hasRelatedWork W2082079258 @default.
• W2992162299 hasRelatedWork W2116146580 @default.
• W2992162299 hasRelatedWork W2167928347 @default.
• W2992162299 hasRelatedWork W227831086 @default.
• W2992162299 hasRelatedWork W2286767940 @default.
• W2992162299 hasRelatedWork W2316775883 @default.
• W2992162299 hasRelatedWork W2955377116 @default.
• W2992162299 hasRelatedWork W3123659877 @default.
• W2992162299 hasRelatedWork W319955625 @default.
• W2992162299 hasRelatedWork W326207782 @default.
• W2992162299 hasRelatedWork W342315915 @default.
• W2992162299 hasRelatedWork W36152236 @default.
• W2992162299 hasRelatedWork W2266230356 @default.
• W2992162299 hasVolume "97" @default.
• W2992162299 isParatext "false" @default.
• W2992162299 isRetracted "false" @default.
• W2992162299 magId "2992162299" @default.
• W2992162299 workType "article" @default.