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"Credit Journey" by Chase?

tag
Anonymous
Not applicable

Re: "Credit Journey" by Chase?

How "new" is VS 4.0?  I know that new models often take years to actually start being used, so has it been around for a few years yet at this point where we may start to expect to see it being used in the near future?

Message 11 of 12
Revelate
Moderator Emeritus

Re: "Credit Journey" by Chase?

TT: will do, I'll be all over that if I can find it personally but I think VS will make inroads at some point.  Forewarned is forearmed, though I wish every service offered full and complete reason codes... so tired of either not getting them or only getting two, or getting some silly interpretation of my reports: give me the real deal please.

 

BBS: It was just announced two months ago, 4/3/17 to be precise from their marketing release... it takes a long ass time to get adopted by lenders, but it might not take that long for the free services to start using it.  

 

VS was released 03/12/13; CK announced it was switching to VS 3 on 12/04/14 so it was 1.75 years give or take and that might be faster this time with so many lenders offering it now.  I *think* it's all one product from Transunion that everyone is offering, so if TU switches that we'll probably get VS 4 from a bunch of places overnight, but when TU might do that is incredibly difficult to say.

 

If the GSE's are putting their money where their mouth is, they might well trial VS 4 on their datasets, and probably the bureaus would pay them to trial it too... if it can really do what they say with regards to fixing the transactor issue that'd save a non-trivial amount of silly work for the GSE's.




        
Message 12 of 12
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