White Paper Download

This white paper is an excerpt from the book Credit Risk Assessment: The New Lending System for Borrowers, Lenders, and Investors by Clark R. Abrahams and Mingyuan Zhang. In this paper, the authors survey various opinions concerning the causes of the current financial crisis; its impact, consequences and implications; and the role of loan underwriting, which they see as being at the core of the problem. The authors also share their ideas for a new, comprehensive and systematic approach to credit granting that combines the best of science, proven credit principles and common sense.