dougpratt
the wheels of justice and sensibility are turning-- loan prospector and desktop underwriter, the {UN}fair isaac authored programs that approve, deny, and dictate rate and terms for all mortgages originated through the great federal clearing houses is coming at last under legal attack via class action filed in philadelphia federal court, citing discrimination, civil liberties/civil rights violations, and a host of constitutional issues.
the named defendants are fannie and freddie alone. this appears to be the way it's things are going to open up. {UN}fair issac still sits under an umbrella of federal protection; they will be taken to task by fannie and freddie as the verdicts start coming in, and the lending industry itself will fall not far behind. bear in mind that the purpose of this system has been to gouge consumers, maximize corporate profits, and leave it so that no participant of the great 21st century trillion dollar scam should ever take responsibility of be called to answer for the part they may have played in pulling it off. so many parties and profiteers are involved in the feedingfest off american consumers, all it takes is the perennial fingerpoint at somebody else to get off the hook in the unlikely event a related case should even make it into court. as my damages approach a $300,000 price point, i'm being advised to sit it out and see how the lawsuits now entereing the federal court system play out. at present, there is no case law for my legal people to study, and no precedents have yet been set by prior judicial rulings. exclusive delegation of consumer lending decisions to computers, and how the machines are programmed, is now the industry standard. it is my contention, that even if equitable evaluations can be made by computer in the majority of cases, automated decisions made in my spefic case have been grossly unjust, reflecting inherent flaws in the software used to judge me inaccurately, and that there is no provision of any kind in this process for human intercession. as defective as this software may be, in today's mortgage industry, its output is law.
the ultimate blame lies not with computers, or even with authors of defective evaluation software--- it lies alone with those people who have decided it's better not to think or take responsibility for their own screw-ups. point the finger at someone else, or stick it onto the computer. everybody who has played any kind of role in this madness will tell you credit scoring was meant to be a tool in the decision making process. let all get out our shovels and today is COW*SNOW day--:)** cows do it in summer; the sky does it in winter. computers are great- the best tool we've ever developed, but people make computers, and people tell then what to do. i'm not about to smash mine into tiny little bits because somebody in a position of power uses theirs to ruin my life. instead, i'll do what i can to make them answer to me and to the world for how they are distorting the truth, denying me my rights, and cheating me and millions of others by fraud and false precepts.
when asked to make evaluations or solve a problem, we humans consist of two modalities: the logical and the emotional; objective and subjective. one half of our brains adds 2 + 2 and arrives at 4. the other half adds 2 + 2 and arrives at 39, plus a vast plethora of abstract concepts why 2 +2 = 39 is far better than 2 +2 = 4 -- follow ye books, articles, and classes at harvard i avoided for the most part, attended a few, and usually did better that economics 101 and programming robbby dummbott the gridrunner in pascal. i was a language major, and the only c+ i got there was business administration and corporate structure, in french. when compared to the logic of {UN}fair isaac, i take pride in the c- i pulled off in that economics class-- B+ in syllogistic logic [Aced the final-:)**]; like you're less likely to default on the mortgage when your FICO score glues $550 onto your monthly payment. smart, yeah??--
one of the classic arguements in support of computerized credit scoring is that racially biased loan officers cannot affect the result of a minority person's application. this is true- {UN} fair isaac and their idiot quackware puts the racism right back in, by designating minority classes as increased risk, and using zip codes to reduce applicants' scores accordingly. individual borrowers aren't subject to racial discrimination at all-- that's illegal, so everybody within a demographically predesignated area considered "higher risk" is discriminated against equally, regardless of race, creed, national origin., etc.....
fannie & freddie took drivers out of the bus and replaced 'em with FICO's idiobots. today it's an equal opportunity discrimination and racist drivers. i want the best for my fellow passenger, but when i
step onto the bus in wearing a saks 5th ave. suit, briefcase, and $6000 rolex, FICO-bott in the driver's seat quacks out:--"negro, back of the bus, shit down and sutt up, or da bus don't go," i find myself subject to the same affront as did Rosa Parks in 1955.
somewhere along the way, an appropriate balance between logic and emotion, objectivity and subjectivity, has again been lost. now that FICO controls every aspect of conventional mortgage underwriting, no lender be subject to a claim of discrimination. "if you don't like it, blame someone else. in the end, the computer done it, and the writers of your defective credit score answer to no one-- not borrowers, lenders, underwriters, bond analysts, or God Himself." behold the perfect, legally impermeable, consumer RIPOFF!! silent-but-deadly , sacro-sainte, THIEF! uncle sam is in on this one, up and beyond his stove-pipe hat and aching balls! like mr. nixon, he may not have written the bullshit that lead to his demise, but sure as shittin' signed off on it! "i am not a crook" may have been perfectly true when he spoke the words-- he just shook all the crooks' hands and ushered them through with a big smile on his face as they did their business. last time i'll ever vote until somebody makes it worth the trouble of stopping on a cold, rotten november night for me to support their bid for public office.
robert frost's vermont poem is much better---:)**
goodnight--
the named defendants are fannie and freddie alone. this appears to be the way it's things are going to open up. {UN}fair issac still sits under an umbrella of federal protection; they will be taken to task by fannie and freddie as the verdicts start coming in, and the lending industry itself will fall not far behind. bear in mind that the purpose of this system has been to gouge consumers, maximize corporate profits, and leave it so that no participant of the great 21st century trillion dollar scam should ever take responsibility of be called to answer for the part they may have played in pulling it off. so many parties and profiteers are involved in the feedingfest off american consumers, all it takes is the perennial fingerpoint at somebody else to get off the hook in the unlikely event a related case should even make it into court. as my damages approach a $300,000 price point, i'm being advised to sit it out and see how the lawsuits now entereing the federal court system play out. at present, there is no case law for my legal people to study, and no precedents have yet been set by prior judicial rulings. exclusive delegation of consumer lending decisions to computers, and how the machines are programmed, is now the industry standard. it is my contention, that even if equitable evaluations can be made by computer in the majority of cases, automated decisions made in my spefic case have been grossly unjust, reflecting inherent flaws in the software used to judge me inaccurately, and that there is no provision of any kind in this process for human intercession. as defective as this software may be, in today's mortgage industry, its output is law.
the ultimate blame lies not with computers, or even with authors of defective evaluation software--- it lies alone with those people who have decided it's better not to think or take responsibility for their own screw-ups. point the finger at someone else, or stick it onto the computer. everybody who has played any kind of role in this madness will tell you credit scoring was meant to be a tool in the decision making process. let all get out our shovels and today is COW*SNOW day--:)** cows do it in summer; the sky does it in winter. computers are great- the best tool we've ever developed, but people make computers, and people tell then what to do. i'm not about to smash mine into tiny little bits because somebody in a position of power uses theirs to ruin my life. instead, i'll do what i can to make them answer to me and to the world for how they are distorting the truth, denying me my rights, and cheating me and millions of others by fraud and false precepts.
when asked to make evaluations or solve a problem, we humans consist of two modalities: the logical and the emotional; objective and subjective. one half of our brains adds 2 + 2 and arrives at 4. the other half adds 2 + 2 and arrives at 39, plus a vast plethora of abstract concepts why 2 +2 = 39 is far better than 2 +2 = 4 -- follow ye books, articles, and classes at harvard i avoided for the most part, attended a few, and usually did better that economics 101 and programming robbby dummbott the gridrunner in pascal. i was a language major, and the only c+ i got there was business administration and corporate structure, in french. when compared to the logic of {UN}fair isaac, i take pride in the c- i pulled off in that economics class-- B+ in syllogistic logic [Aced the final-:)**]; like you're less likely to default on the mortgage when your FICO score glues $550 onto your monthly payment. smart, yeah??--
one of the classic arguements in support of computerized credit scoring is that racially biased loan officers cannot affect the result of a minority person's application. this is true- {UN} fair isaac and their idiot quackware puts the racism right back in, by designating minority classes as increased risk, and using zip codes to reduce applicants' scores accordingly. individual borrowers aren't subject to racial discrimination at all-- that's illegal, so everybody within a demographically predesignated area considered "higher risk" is discriminated against equally, regardless of race, creed, national origin., etc.....
fannie & freddie took drivers out of the bus and replaced 'em with FICO's idiobots. today it's an equal opportunity discrimination and racist drivers. i want the best for my fellow passenger, but when i
step onto the bus in wearing a saks 5th ave. suit, briefcase, and $6000 rolex, FICO-bott in the driver's seat quacks out:--"negro, back of the bus, shit down and sutt up, or da bus don't go," i find myself subject to the same affront as did Rosa Parks in 1955.
somewhere along the way, an appropriate balance between logic and emotion, objectivity and subjectivity, has again been lost. now that FICO controls every aspect of conventional mortgage underwriting, no lender be subject to a claim of discrimination. "if you don't like it, blame someone else. in the end, the computer done it, and the writers of your defective credit score answer to no one-- not borrowers, lenders, underwriters, bond analysts, or God Himself." behold the perfect, legally impermeable, consumer RIPOFF!! silent-but-deadly , sacro-sainte, THIEF! uncle sam is in on this one, up and beyond his stove-pipe hat and aching balls! like mr. nixon, he may not have written the bullshit that lead to his demise, but sure as shittin' signed off on it! "i am not a crook" may have been perfectly true when he spoke the words-- he just shook all the crooks' hands and ushered them through with a big smile on his face as they did their business. last time i'll ever vote until somebody makes it worth the trouble of stopping on a cold, rotten november night for me to support their bid for public office.
robert frost's vermont poem is much better---:)**
goodnight--