http://www.washingtonpost.com/wp-dyn/content/article/2007/04/06/AR2007040600956.html

Interesting, didn't know about that. I wonder how a mortgage broker can catch them...

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Wow!

I am sure the CS companies and the banks are working this one out. The scoring system is jacked to enable banks to charge more.

I better jump on this one before it's too late! LOL

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1993 300E 2.8 185k miles
2006 Mustang Convertible 4.0 Eaton Supercharged

Just checked mine for the first time since the mid-1990's. From Experian...

PLUS Score & Risk Level

Your PLUS Score of 787 represents a low risk for most lenders. View your full Score Explanation

Read'em and weep.

B

I'm sure your children are working on that.

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You don't need a weatherman to know which way the wind blows - Robert A. Zimmerman

as they leave home, score goes up.

Hmmmm.

B

Sounds like they are manipulating the scoring standards so thier loans will make it thru.....hummmm.

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"It's normal for these things to empty your wallet and break your heart in the process."
2012 SLK 350
1987 420 SEL

I look at these reports every day. But unlike the mortgage business, we don't set the rate based upon credit score or history.

We're generally more concerned with missed payments, multiple late payments, collections, bankruptcies, etc. a 650 with no lates is not a problem. A 750 with three lates is not a problem. A 650 with more than three lates in the last few years isn't good, but wouldn't necessarily warrant a decline. Anything lower than 650 and you better have a good explanation and positive current trend.

I guess my point is that a guy could hire one of these firms to boost his credit score, but a good banker or underwriter would still see all the derogs listed on the report. I'd call shenaningans if I saw a credit report with a FICO of 750 and a bunch of derogs. Remember, there's a reason why the score is low.

Kinda like Carfax. A good tool; but not to be relied upon soley for a decision.

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1982 240 D, 308,000 - 321,127 miles (sold)
1982 300 TD,166,500 - 226,000 miles
1998 E 320, 120,000 - 144,000 miles
2005 C 230 K, 26,000 - 77,000 miles (sold)

You have college aged kids?

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-Justin

91 560 SEC AMG - other dogs dd
01 Honda S2000 - dogs dd
07 MB ML320 CDI - dd
16 Lexus IS250 - wifes dd

it's automatic.

One. So far she's pretty much paying her own way with a pretty good scholarship and a student job and a regular job between semesters. Her boss says she goes to work on time, sober, and stays all day focused on her responsibilities.

I'd hire her in a second if we didn't have nepotism rules.

Hopefully my next one will be another parental dream-come-true, too.

B

Wow... Your score is lower than mine...and I cant spell!!!...

LOL.....Who said life is fair!!..........

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Matt (SD,CA)

1984 300SD.. White/Chrome Bunts..Green

1997 2500 Dodge Ram 5.9 Cummins 12 Valve 36 PSI of Boost = 400+hp & 800+tQ .. ..Greenspeed

2004 Dodge Ram 2500 4x4 Quad Cab Cummins 5.9 H.O "596hp/1225tq" 6 spd. Man. Leather Heated seats/Loaded..Flame Red....GREENSPEED

Global warming...Doing my part, Smokin da hippies..

Fight the good fight!......

That's not fair: You have God on your side.

__________________
Matt (SD,CA)

1984 300SD.. White/Chrome Bunts..Green

1997 2500 Dodge Ram 5.9 Cummins 12 Valve 36 PSI of Boost = 400+hp & 800+tQ .. ..Greenspeed

2004 Dodge Ram 2500 4x4 Quad Cab Cummins 5.9 H.O "596hp/1225tq" 6 spd. Man. Leather Heated seats/Loaded..Flame Red....GREENSPEED

Global warming...Doing my part, Smokin da hippies..

Fight the good fight!......

Because of human nature eventually everything will have to be regulated. It's legal now, but for how long? Who ends up paying for these shams? All of us.