Re:What happens after a bank closes all of your credit cards?
by lotsofpulp on Saturday April 10, 2021 @04:30PM
(#26764861)
I specified FICO scores. Mortgage lenders might also use their own credit scores, or credit scores from a different data analytics company.
Either way, a score is just a heuristic to avoid wasting underwriter’s time combing through someone’s finances. Once you pass whatever score hurdle a mortgage lender has set, you still have to pass the manual review.
Either way, a score is just a heuristic to avoid wasting underwriter’s time combing through someone’s finances. Once you pass whatever score hurdle a mortgage lender has set, you still have to pass the manual review.