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FICO to incorporate buy-now-pay-later loans into credit scores

(www.axios.com)
277 points cebert | 2 comments | 24 Jun 25 00:03 UTC | HN request time: 0.426s | source
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jppope ◴[24 Jun 25 00:24 UTC] No.44361613[source]▶
thats interesting. I was always wondering what the hustle was, guess that was it- it was outside of the credit system
replies(2): >>44361668 #>>44361750 #
NewJazz ◴[24 Jun 25 00:31 UTC] No.44361668[source]▶
It already shows up when mortgage lenders do their checks, AIUI.
replies(1): >>44364882 #
hopelite ◴[24 Jun 25 11:13 UTC] No.44364882[source]▶
The irony is that it does not even really matter anymore at this stage, especially with mortgages. So you get a few points taken off because you have 800 vs 600 score, but it won’t really make a difference when both are on the same out of control roller coasters where house prices have increased by 100% in 7 years.
replies(1): >>44367754 #
1. nradov ◴[24 Jun 25 16:12 UTC] No.44367754[source]▶
US home prices haven't increased by 100% in 7 years. On a national basis, the Case-Shiller index has only increased by 65% (nominal dollars, not inflation adjusted).

https://fred.stlouisfed.org/series/CSUSHPINSA

In the short term, the difference in mortgage interest rates between prime versus subprime loans can have a major impact on borrower cashflow and the type of property they can afford.

replies(1): >>44395506 #
2. hopelite ◴[27 Jun 25 10:12 UTC] No.44395506[source]▶
I’m not sure why you would rationalize things so much. Yes, the biased Case-Shiller shows that the avg is only up 65% (think about that!!! 65%!!!) which is kept suppressed by the prices only increasing far slower in places where no one wants to live because there are no opportunities.

I know first hand that prices have doubled in the places people want to live because all the money has pooled there through all the money printing fraud.

It’s not even hard to see if you simply look yourself, not rely on some intentionally moderating Case-Shiller index. So again, why do you make excuses for 65% increases because it’s not 100%?????? 65%, my man!