Cecala: The borrowed funds field has been, and is still extremely determined by fico scores
You will find somewhat of an ordinary vanilla extract, one-size-fits-all the financial underwriting fundamental, and that is of low quality at the flexible fraction borrowers generally speaking, or people which have whatever a low-typical, non-generic borrowing from the bank character
Degree during the Wharton: What about related to Fico scores for the a consistent basis to influence just who exactly are definitely the better qualifiers to own a home loan?
When your credit score was lower than 700 you might be sensed suspect and you need to have compensating products before you rating a financial within an effective price
Cecala: In my opinion there clearly was. The borrowed funds markets prides in itself into the being color blind, and you will fundamentally using a black colored package, however, any black colored container fundamentally discriminates against single individuals, lower-income consumers and you will consumers with lower fico scores. （更多…）