Credit Scores Are Less Predictive of Mortgage Woes, Washington Mutual Says

(Bloomberg) -- Credit scores haven't been as
helpful as they once were in predicting the performance of
riskier mortgages, according to the head of capital markets at
Washington Mutual Inc., the biggest U.S. savings and loan.

One problem is that lenders aren't consistent with one
another in how they select which scores to use, said David Beck,
executive vice president at Seattle-based Washington Mutual,
speaking today at an investor conference in New York.


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