2 ms·
It’s a convenient evil. Finance isn’t the only area that uses reputation judge people. I imagine we’ve all been asked for references when applying for a job or
by mikeash 7y ago
It’s a convenient evil.
Finance isn’t the only area that uses reputation judge people. I imagine we’ve all been asked for references when applying for a job or an apartment. Jobs and apartments manage to get by without a centralized score.
Mortgages predate credit scores by centuries. It’s demonstrably not necessary.
- ed312 7y agoMany, if not all medium to large companies do in fact pull a limited credit report as part of the screening process. Also, there is far more regulation on mortgages these days. E.g. I can get a massive home loan from a banker I've never met before because of credit bureaus.
- mikeash 7y agoMany do, many don’t. And they’d keep on hiring just fine if they couldn’t. As for getting a loan from a banker you’ve never met, my point exactly. They’re a convenient evil.
- deleted 7y ago[deleted]