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.
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Licensed in : CA, NV, UT
Nevada License: 25855
Company Nevada License: 2647
Company NMLS: 322341
Individual NMLS: 307439
www.nmlsconsumeraccess.org
3571 E. Sunset Road
Las Vegas, NV 89120
Phone: (702) 419-5101
timothy.klinger@gmail.com
tim@citizens-choice.com
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