 |
| |
In the United States, a credit score is a number based on a statistical analysis of a person's credit files, that in theory represents the creditworthiness of that person, which is the likelihood that people will pay their bills. A credit score is primarily based on credit report information, typically from one of the three major credit bureaus: Experian, TransUnion, and Equifax. Income is not considered by the major credit bureaus when calculating a credit score. There are different methods of calculating credit scores. FICO, the most widely known type of credit score, is a credit score developed by FICO, previously known as Fair Isaac Corporation. It is used by many mortgage lenders that use a risk-based system to determine the possibility that the borrower may default on financial obligations to the mortgage lender. All credit scores have to be subject to availability. The credit bureaus all have their own credit scores: Equifax's ScorePower, Experian's PLUS score, and TransUnion's credit score, and each also sells the VantageScore credit score. In addition, many large lenders, including the major credit card issuers, have developed their own proprietary scoring models. Studies have shown scores to be predictive of risk in the underwriting of both credit and insurance.[15][16][17] Some studies even suggest that most consumers are the beneficiaries of lower credit costs and insurance premiums due to the use of credit scores.[16][18] New credit scores have been developed in the last decade by companies such as Scorelogix, PRBC, L2C, Innovis etc. which do not use bureau data to predict creditworthiness. Scorelogix's JSS Credit Score uses a different set of risk factors, such as the borrower's job stability, income, income sufficiency, and impact of economy, in predicting credit risk, and the use of such alternative credit scores is on the rise. These new breed of credit scores are often combined with FICO or bureau scores to improve the accuracy of predictions. Most lenders today use some combination of bureau scores and alternative credit scores to develop a better insight into their borrower's ability to pay. It is widely recognized that FICO is measure of past ability to pay and that's why new credit scores that focus more on future ability to pay are being deployed to enhance credit risk models. L2C offers an alternative credit score that uses utilities payment histories to determine creditworthiness and many lenders use this score in addition to bureau scores to make lending decisions. Many lenders use Scorelogix's JSS score in addition to bureau scores since the JSS score factors job and income stability to determine if the borrower will have the ability to repay debt in the future. It is estimated that FICO score will remain the dominant score but in all likelihood it will always be used in conjunction with other alternative credit scores which offer new layers of risk insights.
detained while trials were pending and insist that it will withstand court scrutiny. A federal agent convicted for the first time under the Kansas law could face six months in prison, though probation would be the presumed sentence."These hard-working federal employees cannot be forced to choose between the risk of a criminal prosecution and the continued performance of their federal duties," Barry Grissom, the U.S. attorney for Kansas, said in a statement Thursday.But Kobach called Holder's analysis "simplistic and incorrect" and said the Kansas law is valid to protect the state's residents against unconstitutional measures enacted by Congress."We are very, very confident of our position," Kobach said in an interview. "The state of Kansas is not in any way afraid of a legal challenge."The office of Kansas Attorney General Derek Schmidt has already anticipated a potential legal challenge from the federal government, and has asked legislators to increase its budget by $225,000 over the next two years to cover litigation costs.Stoneking said a dispute could arise after a local gunsmith sells a firearm manufactured in Kansas to a state resident without complying with federal requirements for a background check on the buyer or registering the gun. Kobach agreed."Until that actually happens, there won't be any litigation," Stoneking said. "The federal government will have to have some way of finding out."Supporters of the Kansas law have sa
is family.Friday is Ricardo Portillo's youngest daughter's 16th birthday, and the family was planning to leave on vacation Thursday, Johana Portillo said. Instead, they have set up a bank fund in case their father dies."If my dad doesn't make it, we want to make his last wish come true," Johana Portillo said. "To see his family again."She said his sisters are trying to come from Guadalajara, Mexico. The referee hadn't seen his sisters in the 16 years since he moved to Utah."It's just not fair," said Johana Portillo, holding back tears. "This person caused us a lot of pain. I want justice for my dad, and we're going to get it. ... If he spends time in jail forever, it's not enough. They are not going to bring my daddy back."
No comments:
Post a Comment