Question: What is FICO and what does it do for lenders
What is FICO and what does it do for lenders? Why is this credit-scoring system so popular today?
Answer to relevant QuestionsWhat laws exist today to give consumers fuller disclosure about the terms and risks of taking on credit?What is home equity lending, and what are its advantages and disadvantages for banks and other consumer lending institutions?How is the loan rate figured on a home mortgage loan? What are the key factors or variables?Greg Lance has just been informed by a finance company that he can access a line of credit of no more than $75,000 based upon the equity value in his home. Lance still owes $180,000 on a first mortgage against his home and ...Barb Jones received a $5,000 loan last month with the intention of repaying the loan in 12 months. However, Jones now discovers she has cash to repay the loan after making just three payments. What percentage of the total ...
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