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Credit Scores and Mortgage Lending

Credit scores are used by lenders to determine whether a consumer qualifies for a loan, how much the consumer will be loaned, and the terms of the loan. There has been increasing use of credit scores in recent years, particularly in the mortgage lending industry. In this AARP Public Policy Institute Issue Brief, Neal Walters and Sharon Hermanson discuss policy issues associated with increased used of credit scores, including consumer access to credit scores, the cost to consumers for this access, the consistency of credit scores, and the accuracy of credit scores as risk predictors. (8 pages)

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