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If they mainly rely on credit scores, how will they remain competitive with lenders that have more information about the borrower, or has the resources to devel
by conistonwater 12y ago
If they mainly rely on credit scores, how will they remain competitive with lenders that have more information about the borrower, or has the resources to develop a business relationship with the borrower? Everybody else has access to credit scores too, you know.
- rtpg 12y agoit might be that credit scores are cheap enough (or rather, finding more information is expensive enough) that they're the local maximum in terms of possible profit from the transaction.