Title: Nurses
Post by: Rob L on July 27, 2015, 11:00:00 PM
Post by: Rob L on July 27, 2015, 11:00:00 PM
LC seems to have targeted nurses for loans.
A casual look at the loan releases of late seem to include an exceptional number of them.
Or, maybe they've always been there and I just haven't noticed before. I haven't done an actual quantitative study.
A casual look at the loan releases of late seem to include an exceptional number of them.
Or, maybe they've always been there and I just haven't noticed before. I haven't done an actual quantitative study.
Title: Nurses
Post by: PhilGD on July 27, 2015, 11:00:00 PM
Post by: PhilGD on July 27, 2015, 11:00:00 PM
Also Presidents! who knew 
Title: Nurses
Post by: fintechjunkie on July 29, 2015, 11:00:00 PM
Post by: fintechjunkie on July 29, 2015, 11:00:00 PM
For what it's worth, "caring professions" have historically had lower default rates than their credit scores/models would predict. Using profession in underwriting decisions is very difficult in this era of how regulators are interpreting "Reg B" but individual investors can always choose to purchase "Nurse" or "Teacher" loans if they wanted to.
Just my two cents based on a 20+ year history of building/managing underwriting models.
BLOG: www.fintechjunkie.com
Just my two cents based on a 20+ year history of building/managing underwriting models.
BLOG: www.fintechjunkie.com
Title: Nurses
Post by: lascott on July 29, 2015, 11:00:00 PM
Post by: lascott on July 29, 2015, 11:00:00 PM
I like "caring professions" as well because they don't get outsourced to other countries like my software profession! Nurses are also high demand and will be for a long while because of baby boomers 
Title: Nurses
Post by: Victor on August 02, 2015, 11:00:00 PM
Post by: Victor on August 02, 2015, 11:00:00 PM
I'm married to an ER nurse who is returning to school for her masters this fall. I've had an opportunity to interact with many of her coworkers over the years. I've found nurses are no less kooky or prone to making poor economic decisions than the general population. However, as a group, they tend to be more responsible and committed to doing the 'right" thing after their bad decisions than the general population. A nurse will generally take a second PT shift at another hospital to meet financial obligations before just not paying a bill. All other things being equal, I always pick a nurse over another job description.
This anecdotal stuff is probably a lousy way to make economic judgments, but it works for me.
This anecdotal stuff is probably a lousy way to make economic judgments, but it works for me.
Title: Nurses
Post by: TravelingPennies on August 02, 2015, 11:00:00 PM
Post by: TravelingPennies on August 02, 2015, 11:00:00 PM
Facts are important....so if you want justification for biasing your decisions just spend time looking through all the Bureau of Labor Statistics employment data (www.bls.gov). They have plenty of data by profession, by location, etc. and there are good, fundamental reasons why certain "classes" of borrowers do better than others.
BLOG: www.fintechjunkie.com
BLOG: www.fintechjunkie.com
Title: Nurses
Post by: Randawl on August 02, 2015, 11:00:00 PM
Post by: Randawl on August 02, 2015, 11:00:00 PM
Title: Nurses
Post by: Fred on August 03, 2015, 11:00:00 PM
Post by: Fred on August 03, 2015, 11:00:00 PM