We recently implemented tiered pricing for our consumer loans. Recently we have had a number of customers who did not have credit scores on their reports.

How do other handle these types of situations?

If we make our bottom tier state less than 620 = this rate - then would the consumers with no credit score fall into this category because essentially they have 0 credit?

That is totally a pricing decision.

I agree with Randy - and whatever you decide to do put procedures in place that are followed. I worked for a bank that didn't have this and almost got into fair lending problems during an exam. Branch managers weren't doing the same thing.

Great, thanks for the advice. I'll be sure to pass it on.