Banks are being told to subject applicants to tough means and credit tests.
The testimony that troubled Judge Sand involved comments by a former company director, Dennis Coyle, who acknowledged that he had testified mistakenly when asked by prosecutors last week about how credit tests involving Adelphia borrowings worked.
Guy Cecala, the chief executive of Inside Mortgage Finance, said that many potential home buyers have been scared away from the housing market or are unable to pass the stringent credit tests required by banks.
But those who have already missed payments or who flunk credit tests at other banks are being left behind at Northern Rock.The bank's dwindling balance-sheet may make it look worse than its rivals, but Northern Rock was not the only reckless lender in a market convinced that house prices could only keep rising.
Furthermore, federal PLUS loans at current competitive market rates enable parents to borrow up to the balance of what isn't covered by the rest of the financial aid package, provided they pass minimal credit tests (not based on credit scores).
A student who's clearly engaged in the material is more likely to be considered favorably when the teacher is assigning partial credit, tests, re-takes, etc.
The Agriculture Department credits testing and tough enforcement, while the industry credits improvements in processing plants.
He credits testing with helping him escape from a working-class background.
While Dr. Neal credits testing companies for improving the fairness of tests, a change he says has coincided with rising minority scores, the method of including or excluding questions is inexact, he asserts.
