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MLI Emerging Markets and Diversity Conference
Over 1,000,000 Applicants Per Year Have
“Thin Thin Files” Files or No or Low FICO ® s
Potential Opportunity for Thin – No Credit File Mortgage Lending
Based on Number of Inquiries Q4 ’05 – Q3 ‘06
(Inquiries in 1,000s) Q4 '05 Q1 '06 Q2 '06 Q3 '06 Total
Total Credit Bureau Inquiries (Mortgage Applications) 4,663 4,494 5,016 4,755 18,928
No-Score Files (no score provided by bureaus) 54 52 58 55 220
No-Hit Files (no file found at bureaus) 10 10 11 11 44
Thin-Data Files (insufficient data for standard decision) 186 179 200 190 757
Total Opportunity
(based on volume of inquiries - individual market opportunities
vary by lender, loan program and particular marketing efforts)
251 242 270 256 1,022
� Industry averages for thin/no-file population based on total credit bureau inquiries
(mortgage application related):
– No Score population (1.2%)
– No Hit population (0.23%)
– Thin file population (4.0%)
Source: Thompson Financial Mortgage Market Date overlaid with First American CREDCO Scoring Data
Market Opportunity
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