skip to main content

Buying and Selling Homes

Credit Scoring explained

15 years ago

Credit Scoring explained

An interesting interview explaining the technicalities of the credit scoring models of the bureaus.

http://www.creditcrm.com/crmju/

Dave Donhoff

Leverage Planner

Here is a link that might be useful: Credit Scoring explained

Comments (2)

graywings123
15 years ago
The link says that the audio is not longer available.

Are the new scoring models now being used? I was waiting to check my credit score to see if it has changed.
dave_donhoff
Original Author
15 years ago
Graywings,
The audio interview was with a former bureau & FICO executive... and it explained that there are SO MANY DIFFERENT scoring models being used out there.

He explained that FICO publishes a scoring algorithm which is software the same way that Microsoft publishes Windows.

Each company, credit agency, and bureau then buys their license from FICO... and is SUPPOSED to pay to upgrade their license each time FICO issues a new version. HOWEVER, not everyone pays to stay updated.

SO, scores can (and are) all over the place still among companies that have not upgraded.

Its kinda nuts, in my opinion.
Dave Donhoff
Leverage Planner
Related Professionals
Arlington General Contractors · Groton General Contractors · Keene General Contractors · Lakewood Park General Contractors · Miami Gardens General Contractors · Mobile General Contractors · Point Pleasant General Contractors · Red Wing General Contractors · Redding General Contractors · Rolla General Contractors · Warrenville General Contractors · West Mifflin General Contractors · Spring Valley Home Stagers · Post Falls Home Stagers · Caledonia Interior Designers & Decorators

Sign Up to Comment

Related Stories

SMALL HOMES My Houzz: Thrifty, Crafty and Charming in a Portland Bungalow

By Whitney Lyons

Newlyweds use DIY ingenuity and scores from friends and garage sales to give their home inviting, comfy style

HOUZZ TOURS My Houzz: Eclectic Meets Rustic in a Decidedly Different Dallas Home

By Sarah Greenman

This couple's highly personal style embraces found objects, thrift store scores, international art and a whole lotta grandkid love

SMALL HOMES Houzz Tour: A New York Blogger's Cozy Family Nest

By Vanessa Brunner

A Manhattan apartment for a young family with a toddler charms with creative arrangements, flea market scores and personal touches

REMODELING GUIDES 6 Must-Know Lessons From a Serial Renovator

By Bud Dietrich, AIA

Get your remodel right the first time, with this insight from an architect who's been there too many times to count

ART From the Artist: How to Make a Real Mobile

By Marco Mahler

It’s all in the balancing points: A top mobile designer shows how to create a Calder-inspired installation of your own

DECORATING PROJECTS Quick Fix: Reupholster a Chair Seat

Take a chair from drab to fab, no sewing or special skills required, in just a few simple steps

MOST POPULAR A Magical Tree House Lights Up for Christmas

By Sarah Greenman

From the Most Popular file: An incredible tree house takes things up a notch for the holidays. See how it came to be

KIDS’ SPACES Room of the Day: Girls’ Bedroom Plays With Color and Pattern

By Becky Harris

Children's art, worldly textiles and two sisters’ favorite hue inspires their bedroom design

DECORATING GUIDES 9 Planning Musts Before You Start a Makeover

By Judith Taylor Designs

Don’t buy even a single chair without measuring and mapping, and you’ll be sitting pretty when your new room is done

MOVING 5 Risks in Buying a Short-Sale Home — and How to Handle Them

By Christine Tusher

Don’t let the lure of a great deal blind you to the hidden costs and issues in snagging a short-sale property

Sponsored

More Discussions

Would you pass on a one-bath house?

32

Resale Value: Composit vs PVC Deck

28

would you paint these built in ?

19

This is a new one for RE listing

10

Concerns of buying 2br house (instead of 3 br)

4