Posted by Christine Baker on January 15, 1998 at 20:54:22:
In Reply to: keep it comming posted by mindtrapu2 on December 16, 1997 at 11:54:43:
Appreciate your comments!
I don't know who CSC is, assume it is a credit bureau. Fair Isaac makes their money by selling their Scoring software to lenders.
And of course they also sell it to mortgage credit reporting agencies who then sell the Scores to brokers as an enhancement to the basic reports. Sometimes all 3 Scores are added for a few bucks, some companies charge per Score. That's why many brokers only order the FICO (Experian) Score.
Fair Isaac's business is booming! They are currently running ads on the radio looking for employees.
It would be easy enough for the FTC or legislators to require that the bureaus also purchase the software and add the Scores to the reports.
Or why not require that Fair Isaac provide the software free of charge to the bureaus?
Of course, I'd still prefer them to prohibit the use of Scoring for mortgages.
I will definitely pursue the issue with the FTC and politicians and will add tons of material once I'm finished with the web remodel.
Christine