Florida Foreclosure Defense Lawyers Blog

Fair Issac Corporation (FICO) is a company that provides analytical services that assist financial companies in lending decisions. FICO has created a profile of individuals that strategically default on their residential mortgages. The mortgage industry has seen a large increase in homeowners that are walking away from their mortgage obligations although they have the ability to continue making payments. FICO says that it has developed a method, based on consumer behavior, that allows lenders to identify those borrowers that are strategic default risks. FICO claims that it has identified specific characteristics that make a borrower over 100 times more likely to strategically default.