The end of the article focused on the improving rate of homeownership of minorities in Texas and Dallas to counter the arguement that credit scoring is harmful to minorities, but,noticeably, it did not cite the current rate of homeownership of minorities for the cited period of time to put it in perspective. It’s absence may indicate to the reader that those statistics may not support Ray’s statements as well. In the long run, credit scores will be used as a factor as long as actuarial data develops further and other rating factors are properly weighed in the algorithm. For Auto insurance, for example, it will always be easier to charge based on driving experience, MVRS/Claim History, over probability of paying bills on time. That is reality, also.
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The end of the article focused on the improving rate of homeownership of minorities in Texas and Dallas to counter the arguement that credit scoring is harmful to minorities, but,noticeably, it did not cite the current rate of homeownership of minorities for the cited period of time to put it in perspective. It’s absence may indicate to the reader that those statistics may not support Ray’s statements as well. In the long run, credit scores will be used as a factor as long as actuarial data develops further and other rating factors are properly weighed in the algorithm. For Auto insurance, for example, it will always be easier to charge based on driving experience, MVRS/Claim History, over probability of paying bills on time. That is reality, also.