Customer Reviews

Credit Risk Modeling: Design and Application

5 star:		(1)
4 star:		(1)
3 star:		(0)
2 star:		(3)
1 star:		(0)

 

 

The title of the book uses the buzz words "credit risk" to attract readers. However, the papers collected in the book are not very deep and the coverage is very restricted. There is not much theory offered, nor is there any rigorous empirical work done. Not recommended for purchase, a browse maybe OK.

The title says "Design and Application"; the book serves the title very well. Concise, loaded with different angles. Some writers' names are big in other fields. Surprisingly, a good economist's review is also included, Mark Z's. I once reviewed about 90 relevant publications in the credit scoring field for my thesis project. One impression was the literature was fragmented and heavily European oriented. This book clearly interests me more as it relates to American experience more.

The title does not say "Theory and application". So I don't complain about its "lack of substance". I don't believe either it is for beginners. Design is related to science, but design is often more an art than science; I don't expect it to be a theoretic tome. It is more like a "programmer's pocket book". So certain level of prerequistion and experience will max out the benefits for the reader.

I look forward to seeing another update.

I agree with everyone else, but they are comming from a different point of view than the person that would benefit from this book.

This book is very nicely done for the beginner who wants to read his first book on credit risk.

Even for me I found some information in it that was extremely beneficial; it will probbaly save our corporation a great deal of money.

This is really a collection of very general personal reports on things to consider when designing a scoring system. For practical application I think it has limited scope.

This book describes how the US mortgage and credit card industries approach modeling, from the industry standard practioners point of view. It is best read by those familiar with the industry. It ignores the potential of current thinking outside industry standard practices. However, everyone interested in the subect needs to know the way FICO does it; they are the standard.