Hello, do you know where I can find any statistics/data/graphs on the correlation between FICO score and loan default rate?

Hello, do you know where I can find any statistics/data/graphs on the correlation between FICO score and loan default rate?
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#1

Thank you.


#2

When we put together our “What is a good credit score?” infographic, we searched for just these statistics. It’s hard to find good current numbers for a default rate, but we did come up with the delinquency rate for various credit score ranges:

Score range     Delinquency rate
300-550            75%
550-620            50%
620-680            15-30%
680-740             5%
740-850             2%

To get the default rate, I’d suggest checking out federalreserve.gov. There I was able to find a report with the default rate on new loans for the two years after origination, 2000-2002:

FICO Score              Default rate
?< 520                         41%
520-559                    28.4%
560-599                    22.5%
600-639                    15.8%
640-679                     8.9%
680-719                     4.4%
720 <                         1.0%

It’s tough to find more current stats. We did find, in another Federal Reserve report, the “Odds of Default” for various score ranges from 2008-2010:

FICO Score           Odds of default?

610                        5:1
645                        10:1
685                        20:1
705                        30:1
720                        40:1
735                        50:1
770                        100:1

They offer a back catalog of papers and reports; let us know if you find anything more current.


#3

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