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Bubble Delay Strategy: Artificially raise FICO scores

What Fair Issac is doing will ensure that the bubble gets even larger and more dangerous so that when the bubble eventually bursts it will be even worse than when the last bubble burst in 2007-2008.

Livinglies's Weblog

Fair Isaac is involved in a suspicious attempt to artificially boost the pool of eligible, credit-worthy mortgage and auto recipients. The company which is behind the crucial FICO score that determines every consumer’s credit rating, “will stop including in its FICO credit-score calculations any record of a consumer failing to pay a bill if the bill has been paid or settled with a collection agency. The San Jose, Calif., company also will give less weight to unpaid medical bills that are with a collection agency.” In doing so, the company would “make it easier for tens of millions of Americans to get loans.”

Then, back in March of this year, in the latest push to artificially boost FICO scores, the WSJ reported that “many tax liens and civil judgments soon will be removed from people’s credit reports, the latest in a series of moves to omit negative information from these…

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