Archive

April 16, 2009

FICO Launches Mortgage Recovery Initiative

Fair Isaac Corp. is offering Mortgage Recovery Initiative, a foreclosure prevention and management tool based on consumer credit behavior feedback. The tool was developed to help facilitate mortgage modifications and mitigate new delinquencies by reducing re-defaults and preventing foreclosures. The Minneapolis-based firm said MRI assists borrowers and lenders to be aware of and comply with the federal Making Home Affordable guidelines. MRI users can also contact program partners such as the Homeownership Preservation Foundation, a national network of HUD certified counseling agencies, Money Management International, a full-service credit counseling agency, and Equifax.