Is Greenspan predicting the fall of FICO (as we know it) among others?

[Anonymous]

I don't think I or anyone else on this board said FICO was the issue.  The issue was greedy mortgage brokers thinking the bubbble would go on forever or just not caring got who people into houses they couldn't afford.  What is said on this board is a lot different than what is being said in the media and in Congressinal hearing when people run out of fingers to point.I have one friend who is in a mortgage knocking on two loans, one at 8 and one at 11 percent. Who the heck pays that sort of interest rate on that amount of moeny?  But when the consumer is uneducated and the lender or broker is greedy, thats what happens.

[Anonymous]

I was reading about a new version of FICO called FICO08, that is supposed to be more realistic, it is slated to go into effect later this year. I'm wondering how it will change things for the average Joe Consumer. I also see that mortgage insurers are blacklisting large areas, making it impossible to get a mortage without 20% down. Fortunately the Seattle area is not one of those areas, since I hope to get a mortgage and I don't have 20% down. Interesting times indeed!