Joe Marsocci is a senior director for the Mortgage and Capital Markets team in FICO’s Scores division. Marsocci’s extensive knowledge and experience has led to robust growth in mortgage originations for the new FICO Score 10 T. Marsocci has been working closely with mortgage brokers, mortgage bankers, underwriters and loan processors to educate the industry on the new FICO Score 10 T and how it can extend more loans in their communities with more robust performance for first-time homebuyers.
Now that the Federal Housing Finance Agency (FHFA) has selected FICO Score 10 T to be used by Fannie Mae and Freddie Mac, Marsocci has been traveling around the country, educating mortgage professionals on the opportunities and challenges ahead and what the FHFA rollout timeline means for their planning. Marsocci has helped FICO gain industry recognition through speaking engagements and his knowledge on “trended data.” The FICO 10 T credit scoring model is designed to give lenders a more precise picture of a mortgage loan applicant’s creditworthiness.
This past April, FICO announced a significant milestone in the adoption of FICO Score 10 T by the mortgage industry. Since 2023, clients with over $100 billion in annualized mortgage originations and approximately $300 billion in eligible mortgage portfolio servicing have signed up for the FICO Score 10 T. Marsocci has been instrumental in that success, working closely with clients to transition to the new Score and as well as developing key planning steps and activities, and implementing best practices.
Name:
Joe Marsocci
Title:
Sr. Director Mortgage and Capital Markets
Company Name:
FICO
