Fair Isaac Strikes Again
Back when father was a lad, there was no such thing as a credit score. If you applied for a mortgage loan, you filled out the application showing income, assets, employer, the value of the house, and that was pretty much it. Mortgages, like applications, were simple. Somehow, loan officers did their jobs, there were very few foreclosures, and very few banks went bust. Then the wise guys started inventing really complicated mortgages, and something called FICO scores got [...]