Question: How do various credit scoring models, like FICO and VantageScore, impact the approval process for mortgage loans, and what is the significance of credit risk

How do various credit scoring models, like FICO and VantageScore, impact the approval process for mortgage loans, and what is the significance of credit risk in determining interest rates and other loan terms ?

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Credit scoring models such as FICO and VantageScore play a pivotal role in the mortgage loan approval process by providing lenders with a tool to assess the credit risk associated with lending to a pa... View full answer

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