How is responsible for setting up the cities to allow someone to become Albie to app lye for a mortg

and how gives trains union ,expirence, and exufax credit scoring co. the power over peoples finance

How is responsible for setting up the cities to allow someone to become Albie to app lye for a mortgage?

You can apply for a mortgage with any bank the FDIC permits to trade in your area.

THE lenders who use their scoring system to help determine credit worthiness give them authority to provide information. The power over people%26#039;s finances ultimately comes from the lending institutions

How is responsible for setting up the cities to allow someone to become Albie to app lye for a mortgage?

I%26#039;m not really sure what you are asking here but I%26#039;ll take a stab at the second part anyway.

Trans Union, Exuifax ans Experian do not have any %26quot;power%26quot; as you put it over your or anyone Else%26#039;s finances. They are simply firms that collect data from your creditors and compile that data into a report. Additionally, a company called Far Issacs has developed a formula that represents your payment and debt history as a number. This number is called your FICO score.

This report ans score is recognized by creditors as a good gage of your credit worthiness and your ability to repay debt. Without it the would be no way for creditors to assess their risk on any given loan. If that were the case a lender%26#039;s default ratio would be through the roof and we%26#039;d all be paying high rates for any type of loan.

I hope this helped. I%26#039;m still not even sure what the question was.