Mortgage brokers, and those hoping to buy homes, are disgusted by the preeminence of the credit score in “scoring” a home loan today. According to an article, in Friday’s New York Times, this overemphasis on credit scoring in the home mortgage market is not helping the economic recovery either, because people just cannot qualify for [...]
In this part we will explore how different countries utilize credit scoring. We will start our analysis with a general description of credit scoring and then we will deal with different country practices starting with United States. According to an article quoted to Wikipedia, credit score is a numerical expression based on a statistical analysis [...]
To give the issue a sense of an academic taste, we can refer to Loretta J. Mester who is a vice president and economist in the Research Department of the Philadelphia Fed. She is also the head of the department’s Banking and Financial Markets section. In her article which is named as “What’s the Point [...]
Credit scoring is a procedure where an institution or an individual is evaluated based on its past payment patterns. In today’s highly globalized environment credit scoring is getting important day by day. It is important firstly, because it reduces the time and energy spent when evaluating a customer to give credit or enter into a [...]
How do credit bureaus compute ones credit scores? A lot of credit reporting bureaus or agencies gathers information on the subject of the debtors credit history or files from reliable private and public sources. They also collect data from the creditors who extended the loan to the debtor. Accordingly, the information is clustered into five [...]
The good thing about the twentieth century is the vast advancement in technology specifically with the use of computers. At this time and age, people don’t have to worry about almost anything. One can shop, do business, learn and enjoy the world, communicate with family and friends even at the opposite side of the globe, [...]
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