Traditional FICO scores that lenders use in the approval or rejection process are calculated based on the information in the credit reports from the three major credit-reporting firms,Equifax Inc. Zero Hedge are reiterating their bear stance on the US subprime auto market referring to Santander Consumer"s return to the frightening world of "deep" subprime. The article is a good read and I recommend it for anyone who wants an inside look at what has been going on. And sum up suggesting that a new credit score system seems to be based on whether or not prospective borrowers have managed to keep the lights and gas heat on ! They also offer a reminder of comments from Goldmans Sachs which said that GM and Chrysler are the most vulnerable among OEMs who they see as challenged to find fresh opportunities to expand.
Zero Hedge are reiterating their bear stance on the US subprime auto market referring to Santander Consumer"s return to the frightening world of "deep" subprime. The article is a good read and I recommend it for anyone who wants an inside look at what has been going on. And sum up suggesting that a new credit score system seems to be based on whether or not prospective borrowers have managed to keep the lights and gas heat on ! They also offer a reminder of comments from Goldmans Sachs which said that GM and Chrysler are the most vulnerable among OEMs who they see as challenged to find fresh opportunities to expand.