Credit scoring systems enable creditors to evaluate millions of applicants consistently and impartially on many different characteristics. But to be statistically valid, credit scoring systems must be based on a big enough sample. Remember that these systems generally vary from creditor to creditor.
Although you may think such a system is arbitrary or impersonal, it can help make decisions faster, more accurately, and more impartially than individuals when it is properly designed. And many creditors design their systems so that in marginal cases, applicants whose scores are not high enough to pass easily or are low enough to fail absolutely are referred to a credit manager who decides whether the company or lender will extend credit. This may allow for discussion and negotiation between the credit manager and the consumer.
We are a full service residental mortgage lender licensed in California & Florida. Expect only the highest quality service and competitive rates. A tradition of excellence since 2006.
Company NMLS: 2102461
www.nmlsconsumeraccess.org
5256 S. Mission Rd. Suite #130
Bonsall, CA 92003
Phone: 858-775-5877
eric@gotradition.com
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