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Michelle McCormack
Michelle McCormack

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"I have been in this industry since 1987 and you had a LOT less foreclosures, when actual data analysis, done by humans, was the determining factor in granting a mortgage loan. DU and LP approved loans at financially unsustainable DTI ratios and then wonder why there are foreclosures. A persons credit score has absolutely nothing to do with whether or not they are a good risk. My credit was perfect until two years ago and I have spent everything I had to keep afloat a business that the government..."    View Comment
"I had a customer two weeks ago. I ran credit for borrower and spouse. Borrower came in at 618 mid, spouse came in at 609. Because I did not need spouse's income, I dropped spouse and reran borrower under single credit, 30 seconds later. In 30 seconds the score dropped by 8 points!! Obviously, there were no other inquiries or derogs in a 30 second time frame, yet no one can tell me why the score dropped. It just goes to show that using scoring as a means of determining borrowers willingness to..."    View Comment
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