Credit Scores, No Friend of Ours
Data Nation
00:00
The Short Term Fix for Credit Scores
Credit scores could focus on things that are more predictive, bring in more features into the score. 20 years of paying your mortgage is a hell of an indication that you are going to pay your mortgage and that $30 dispute with your bank is not an indication that I'm not going to pay my mortgage in the future. Appraisal is also another instrument which has segregated what is considered sort of good property versus not good property. And if you look at Zello or Redfin and so forth, you would see that the appraisal of these areas is reinforcing the segregation.
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