|[September 03, 2014]
VantageScore Solutions' Bench Deepens with Hire of Mortgage Industry and Strategy Expert Mike Trapanese
STAMFORD, Conn. --(Business Wire)--
VantageScore Solutions, LLC, the company behind the VantageScore® credit
scoring model, announced today the hiring of Mike Trapanese as Senior
Vice President, Strategic Planning and Strategic Alliances.
In this newly created position, Trapanese assumes responsibilities for
refining and executing an ongoing strategic plan focusing on the growth
and traction of the VantageScore model among consumer lending
institutions. Trapanese will also provide outreach to VantageScore
Solution's industry and advocacy partners, as well as to the company's
growing stable of other strategic relationships. He will report to
Barrett Burns, president and CEO of VantageScore Solutions.
Prior to joining VantageScore Solutions, Trapanese oversaw strategy and
corporate development at the Federal Home Loan Bank of New York. In that
capacity, he was instrumental in developing strategies, programs,
investments, and policies to position the bank within the evolving
housing-finance supply chain. Trapanese began his areer as a management
consultant, working with some of the largest financial services firms in
the world on their most pressing strategic challenges.
"The VantageScore model has gained tremendous traction across the
consumer credit landscape, and the time is right to bring in an expert
who can help us leverage these growing trends and maximize the
opportunities ahead," said Burns. "Mike's unique skill set that includes
deep background in lending and corporate strategy will help VantageScore
Solutions continue to grow, and to position ourselves for the future,
particularly within the rapidly evolving secondary market for consumer
Trapanese's official start date was July 21, 2014. He holds a MBA from
the Wharton School at the University of Pennsylvania where he was a
fellow in the Program for Executives. He holds a BA from Boston College.
About VantageScore Solutions
VantageScore Solutions, LLC (www.vantagescore.com)
is the independently managed company that owns the intellectual property
rights to the VantageScore credit scoring models, including the recently
announced VantageScore 3.0 model which provides up to 25 percent
predictive improvement over earlier models and has the ability to
formulate a score for 30 - 35 million previously unscoreable consumers.
Initially developed by America's three national credit reporting
companies (CRCs) - Equifax, Experian and TransUnion - VantageScore
Solutions' highly predictive models use an innovative, patented and
patent-pending tri-bureau scoring methodology that provides lenders and
consumers with more consistent credit scores across all three national
credit reporting companies.
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