Cross River removes min FICO for UPST

In the latest KBRA securitization pre-sale report for UPST (dated Nov 29), it indicates that Cross River Bank has now removed its minimum FICO score requirement.

Finwise eliminated it in September.

CRB and Finwise already originate more than 80% of the loans for UPST.

This complete removal of a FICO barrier with these two bank partners will greatly expand the training data throughput for UPST’s AI and the immediate TAM.

I expect this will positively increase fee revenues, expand the loan transaction numbers, but continue to lower the average loan balances.