Absolutely true. Credit scores have trumped due diligience on loan origination, even though credit scores as intended are only supposed to be an indicator, not the dealmaker. It's rare that lenders even look at the credit reports anymore -- they'll take the score only if it meets underwriting standards. IMHO a credit score alone is all they deserve to see as long as these private companies are allowed to amass dossiers on each of us. A credit score indicates that I pay my bills. The lender doesn't need to know if I shop at Sear's or Nordstroms, or whether I have an Amex or Mastercard.
Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators
Important Notices: By participating on this discussion
board, visitors agree to abide by the rules outlined on our Rules
page. Messages posted on the Democratic Underground Discussion Forums are the
opinions of the individuals who post them, and do not necessarily represent
the opinions of Democratic Underground, LLC.
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
