OMG! The Info on a LexisNexis SageStream Consumer .. 6635074

ID Analytics is a wholly-owned subsidiary of LifeLock, Inc. There are also scores like ChexSystems Consumer Score designed for financial account verification services ranging from 100 to 899. The L2C (Link2Credit) score by L2C, Inc. ranges from 300 to 850. Scorelogix LLC offers the JSS Credit Score, which assesses credit risk based on job history, income, and the impact of the economy.

You need a decent mix of accounts–revolving, installment, etc.  Other factors are age of your credit, debt to income ratio, and so on. SageStream is a consumer reporting agency that is part of LexisNexis® Risk Solutions and provides consumer reports and scores regulated by the Fair Credit Reporting Act (FCRA). Technologies like Hadoop, which allow massive amounts of data to be stored and analyzed quickly, are making AI-based credit scores possible, said Peter Maynard, senior vice president of global analytics at Equifax. A consumer has the right, pursuant to state law, to request a security freeze be placed on certain LexisNexis Risk Solutions reports, and for LexisNexis Risk Solutions to not release those reports without the consumer lifting the security freeze. When this occurs, a customer that inquires on the consumer receives only a notification that the consumer has placed a security freeze on their file.

• You’ll need to provide your Social Security number and other information, such as driver’s license or utility bill, depending on how you request your report.
• LexisNexis Risk Solutions does not charge a fee to apply, lift or remove a security freeze from your file.
• ID Analytics is a wholly-owned subsidiary of LifeLock, Inc.
• “The opportunity is not building the next VantageScore, because believe it or not, those scores work really well,” he said.
• But SageStream credit scores are not widely used like FICO credit scores.

Is SageStream a Legitimate Company?

Yes, you can freeze your credit with SageStream, just as you can with the three major bureaus. This will in turn will block lenders from seeing your SageStream score. However, SageStream’s criteria for determining your SageStream score aren’t clear. This could lead to you being denied credit based on a score you know little about and have little idea how to raise.

• The only issue I had was with the USB Checking account and 3rd form of verification.
• This powerful combination provides a 360-degree view of consumer behavior and enhances the predictiveness of credit decisions, often resulting in a performance lift for lenders.
• FICO 8 doesn’t take into account things like the amount of your payments while VantageScore does.

You’ll also need to provide a copy of a government-issued ID or other supporting documents to prove your identity. Equifax has developed a proprietary algorithm that can generate reason codes for consumers, Maynard said. “They can load their own data in and we’ll sync it up with historical credit archive data, and we’ve overlaid it with a set of machine-learning tools,” Haller said. Most large financial institutions are using the sandbox today, he said. “The opportunity is not building the next VantageScore, sagestream credit optics score because believe it or not, those scores work really well,” he said. AvailabilityID Analytics’ Credit Optics is available today and can be deployed as a stand-alone solution or easily implemented into any existing credit lending program.

Request Your Security Freeze Online

It also seems like the report is missing some critical details, such as auto and mortgage loans, and several paid-in-full loans from 2018 and 2017, as well as a half-paid line of retail credit. Try 150+ pages 🤦🏽‍♂️  Nothing to dispute really, unless I wanted to spend the time disputing out dated information over 10+ years old. FYI – I recently requested a copy of my SageStream CR and they sent it (which only included data from Ally Financial and NSTN, whoever that is) and also included a copy of my Innovis CR. I called and asked if Innovis had been acquired by SageStream or vice versa and the explanation I got was “we use their data, otherwise we are unaffiliated with them.” You can freeze both Sagestream and ARS but keep in mind sometimes freezing these 3rd parties can restrict/prevent you from getting a loan approved.

Re: ok spent an hour on the phone with a Sagestream supervisor.. results

This can be an issue if you need an error corrected immediately. For instance, there may be items that are too old to be reported. The major credit bureaus typically remove obsolete items immediately when you speak with a representative or when that type of dispute is submitted online. This won’t happen with SageStream’s mail-only dispute policy.

Another reason had to do with the when I got a new phone number (I changed it 18 months ago after I started getting spam texts and voice mails in Chinese). The Consumer Financial Protection Bureau can also assist in resolving the matter but you must first go through the dispute process with SageStream. But in the end, consumers won’t be confused, according to Ulzheimer.

View All General Business

Each credit reporting agency uses a different formula to determine your score. Your Experian score might not be the same as your TransUnion score, even if they’re all working with the same information. If you’re applying for a loan, you can expect the lender to check your credit with the three major credit reporting bureaus. Depending on what kind of loan you’re getting, the lender might also run a credit check with a company called SageStream. Consumers with good credit scores from the three major credit bureaus often get denied for vague reasons when creditors use SageStream.

“By combining traditional and alternative data with our patented credit analytics, Credit Optics delivers a more accurate assessment of credit risk than traditional credit scores alone,” said Patrick Reemts, director of Credit Risk Solutions at ID Analytics. See what information about you is maintained in our files by requesting a Consumer Disclosure Report. The report includes items such as real estate transaction and ownership data, lien, judgment, and bankruptcy records, professional license information, and historical addresses. Applying a security freeze prohibits LexisNexis Risk Solutions and SageStream from releasing your LexisNexis Consumer Disclosure Report, your SageStream Consumer Report, or your credit score without your express authorization. The security freeze is designed to prevent credit, loans, and services from being approved in your name without your consent. However, a security freeze does not apply to companies, or collection agencies acting on behalf of such companies, with which you have an existing account that requests information in your consumer report for the purposes of reviewing or collecting the account.

Recommended Posts

All security freezes that are requested through this portal will only be in place at LexisNexis Risk Solutions and SageStream and not other credit reporting agencies. For example, the security freeze will not be in place at TransUnion, Equifax or Experian, Innovis or others. SageStream produces a credit score from that is based on their own data as well as a proprietary credit scoring algorithm.

My Services

As with traditional credit scores, the higher the score, the less risk of the consumer defaulting. But SageStream credit scores are not widely used like FICO credit scores. ID Analytics uses what it calls “convolutional neural nets,” a flavor of deep learning, in its fraud and credit scores, Coggeshall said. For its Credit Optics Full Spectrum credit score, AI engines look at consumer payment data from wireless, utility and marketplace loan providers, to score consumers who have “thin” or no credit bureau files, including young people and new credit seekers.

Credit Cards

There are two main reasons to use artificial intelligence to derive a credit score. The other is to be able to consider people who might not have been able to get a credit score in the past, or who may have been too hastily rejected by a traditional logistic regression-based score. In other words, a method that looks at certain data points from consumers’ credit history to calculate the odds that they will repay. ID Analytics, the leader in on-demand identity intelligence, protects both organizations and consumers by providing unprecedented visibility into fraud risk and credit potential.

And instead of considering one variable at a time, an artificial intelligence engine can look at interactions between multiple variables. Create your account and connect with a world of communities. Stack Exchange network consists of 183 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.