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

In article <483210E5.9030706@[EMAIL PROTECTED]
>,
 Will Trice <wtrice@[EMAIL PROTECTED]
> wrote:

> 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.

The technique is called "manual underwriting".  There is at least on
regional chain in the midwest that uses that in their advertising.
Many lenders have it as an option, but it is more work, so they 
want to cherry pick and go with FICO score.

-john-

-- 
====================================================================== 
John A. Weeks III           612-720-2854            john@[EMAIL PROTECTED]
 
Newave Communications                         http://www.johnweeks.com

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