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Well you're in luck because almost all US residential mortgage lenders perform that due diligence. Credit scores may be a factor in determining loan approval an
by nradov 2y ago
Well you're in luck because almost all US residential mortgage lenders perform that due diligence. Credit scores may be a factor in determining loan approval and interest rate but they also look at other metrics including DTI, LTV, and others.
- oblio 2y agoThen what's the point of centralized scoring agencies except for selling your data?
- nradov 2y agoThose aren't really "scoring agencies". The credit reporting agencies make most of their money with mortgage lenders by selling high-quality data. Credit scores are more of an add-on, and mainly of interest to other types of lenders dealing with smaller loans who can't afford to do rigorous underwriting themselves.