NEWS...
White Data Pre-purchase Debate Continues
The Steering Committee on Reciprocity (SCOR) is considering allowing debt buyers to see pre-purchase 'white data' following a report on the issue submitted by the industry.
Debt buyers are keen to have access to the personal credit records to make pricing decisions when buying consumer debts from banks and other lenders. They were granted access to white data post-sale in September 2007.
Leigh Berkley, chairman of DBSG, said it would make a huge difference to the market, giving buyers greater clarity.
"It would promote certainty for buyers at a time when they are nervous about the prices being asked by sellers," he explained.
It is understood that lenders have concerns about the proposal, though they may be prepared to consider allowing access to anonymised data. The practicalities of accessing the data would also need to be discussed.
Report author Andrew Bartle, Lowell Group chief operating officer and CSA SCOR representative, said deeper understanding of the portfolios helps buyers make informed decisions and gives them the information to identify vulnerable segments and filter out sensitive accounts early in the process. "Can't pays can be dealt with more sympathetically, providing a better experience for this vulnerable section of society," he said.
SCOR will now discuss the issue, though there is no set timetable for agreement and members would have to reach consensus to proceed.
Original article courtesy of Credit Today. For further information visit www.credittoday.co.uk
