Freddie Mac has announced that it will use Zest AI’s machine learning tools to give its credit decisioning models a boost.
“Freddie Mac is always evaluating technology solutions that meet our high standards and support our continued commitment to expanding homeownership opportunities responsibly, especially among first-time homebuyers, communities of color, and those living in underserved markets,” said Michael Bradley, senior vice president of modeling, econometrics, data science and analytics for Freddie Mac’s single-family business. “Zest allows us to do our machine-learning modeling work more efficiently and with less operational risk.”
Using the Zest Model Management System, lenders can analyze large amounts of credit data to help increase approval rates and reduce the risk of faulty credit decisions. Additionally, the platform allows lenders to measure business impact and comply with regulatory requirements by explaining data modelling results.
“Freddie Mac and Zest share the goal of making economic opportunity possible for more people,” said Mike de Vere, CEO of Zest AI. “With Zest software, Freddie’s already best-in-class modeling, and fair lending teams will have the latest tools to help provide more borrowers access to homeownership.”