Re: How Much Is A Credit Score (FICO) Worth?

Daniel T. wrote:
> When it comes time to make a
> loan, just about any lender you can name will tell you what your score 
> is when they check it. They will all probably say something like "I'm 
> not supposed to show you this, but..." and then show you your credit 
> re****t (along with the score) and start asking you questions about any 
> minor discrepancy on it in order to scare you into thinking your score 
> is very low. :-)

I've never dealt with a lender who even bothered to look at anything 
beyond the score.  Doesn't mean they don't exist, though.

Lenders may now be required to give you your score when you apply for 
home loans.  I just applied for a HELOC and got a letter from my bank 
saying, "In connection with your application for a home loan, the lender 
must disclose to you the score that a consumer agency distributed to 
users and the lender used in connection with your home loan, and the key 
factors affecting your credit scores."  Could vary by state?  May apply 
to all types of credit/loans?

-Will

william dot trice at ngc dot com

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