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A pair of authors from SAS, the leader in business analytics software and services, has defined a comprehensive framework for lending that explains how the current economic crisis began and how to avoid another. The new system benefits borrowers, lenders and investors by providing greater transparency and more relevant loan-affordability factors. Its single, consistent view of credit risk encompasses borrowers, lenders, security issuers, investors and regulators.
“Today’s loan classification process is backwards,” said Abrahams, Chief Financial Architect at SAS. “There’s too much emphasis on credit scores and too little on traditional credit fundamentals: character, capacity, capital, collateral and conditions. By incorporating judgment and common sense into a systematic process, we have the best that science and business experience can offer. This new lending system puts controls in place that will keep greed in check.”
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