Suppose you are a loan officer at Carbondale Local Bank. Joan Doe listed the following information on her mortgage application:

Characteristic Value

Annual gross income $$20,000$

TDS $10\%$

Relations with FI Checking account

Major credit cards $7$

Age $20$

Residence Rent

Length of residence $3\mathrm{.}5$ years

Job stability $3\mathrm{.}5$ years

Credit history Missed $3$ payments $1$ year ago

Characteristic Characteristic Values and Weights

Annual gross income $<$$$10,000$ $$10,000$$$25,000$ $$25,000$$$50,000$ $$50,000$$$100,000>$$$100,000$

Score $010203560$

TDS $>50\%35\%50\%15\%35\%5\%15\%<5\%$

Score $100204060$

Relations with FI None Checking account Savings account Both

Score $0101020$

Major credit cards None Between $1$ and $45$ or more

Score $02010$

Age $<252560>60$

Score $52535$

Residence Rent Own with mortgage Own outright

Score $52050$

Length of residence $<1$ year $15$ years $>5$ years

Score $02540$

Job stability $<1$ year $15$ years $>5$ years

Score $02550$

Credit history No record Missed a payment in last $5$ years Met all payments

Score $01540$

The loan is automatically rejected if the applicant$$s total score is less than or equal to $120.$ The loan is automatically approved if the total score is greater than or equal to $190.$ A score between $120$ and $190($noninclusive$)$ is reviewed by a loan committee for a final decision.

a$.$ Calculate Joan Doe$$s credit score.

b$.$ Determine whether or not Joan Doe should be approved for a mortgage from your bank.