Fair Isaac's has created the FICO system. The formula is propreitary, and has been successfully defended in court. Aside from the fact that people's borrowing ability is often based solely on the mysterious FICO score, it often just plain doesn't make sense.
SO: Of course, I've GOTTA know!!!
Working in the Mortgage industry, I run across credit reports that should be circular filed, but get loans because of the FICO score. All charge-offs and collections accounts! Doesn't make sense to me, so I'd like to see what the formula is...
SO: Of course, I've GOTTA know!!!
Working in the Mortgage industry, I run across credit reports that should be circular filed, but get loans because of the FICO score. All charge-offs and collections accounts! Doesn't make sense to me, so I'd like to see what the formula is...
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