Valued Contributor
Posts: 2,300
Registered: ‎01-22-2012

Revelate wrote:

astritaho1979 wrote:

i agree with you on most of the things ur saying the only thing that i would sugest fico to do would be to have the fico in to 3 categories
Fico 720 A 720 B 720 C so  if some one is new to credit but is correct for the first yr with the payments give them 720 C if someone with long payment history and strong report but mid utl give them 720 A so this way the underwriter can  base his decision base on fico score alone.Now this is my opinion.What do u think?

Why are you so hung up on making the FICO score the end-all and be-all of credit approvals?


It's already a complicated enough animal to begin with, and some things such as income, DTI, assets, aren't and would be incredibly difficult to factor into the score but they're absolutely used when it comes to underwriting.


In your model, would we do the same thing for mortgages?  If so, if you think the last mortgage crisis was bad, get ready for the big one... and if not, where would you draw the line on it?

Rev, don't bother with him. Some people only hear what they want to hear. I haven't commented to him directly because I know I'd simply be wasting my time.

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