In order to streamline the decision making process, the lending industry has developed a system which scores the borrower's credit history. The score is seen as predictive of the borrower s ability and willingness to repay the loan. Such scoring gives the lender the ability to give the borrower a rapid credit decision by using automated underwriting software currently available.
Few lenders base their entire credit decision on the score, however.
Lower FICO scores usually trigger a real live underwriter review of the loan application and credit report before a final decision is made.