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Banks to be Big Brother in credit report profiling

By Rick Adlam on Tuesday, March 16, 2010

Banks over the last three years have let leading standards slip, in an effort to compete with non conforming lenders [sub-prime lenders]. This has lead to higher defaults and foreclosures and that is no good for anyone involved. But are the extra credit reporting requirements really necessary?

Posted in Banks, Home Loan Interest Rates, Home Loans, Housing Market, Interest Rates, Lender, Mortgage Rates | Tagged Credit Reporting Agency, Foreclosures, Home loan, Home Loan Applicants, Home Loan Lender, Mortgage Loan, Non Conforming Lenders, Sub Prime Lenders

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