Because, conventional credit bureau scores are inaccurate and that's why banks are losing billions of dollars in credit losses. The reason credit bureau scores are inaccurate is because they do NOT capture borrowers' ability to pay, although it is the most important driver of credit risk. Data clearly shows that income loss due to unemployment is the number 1 driver of delinquencies and credit losses.
Scorelogix is the inventor of the Job Security Score?and it predicts borrowers' ability to pay by using a proprietary, patent-pending model that factors their income risk. When borrowers lose their jobs, they lose their income, and their ability to pay their loans is reduced and they become less creditworthy.