Data Facts Lending Solutions Blog

The Differences Between FICO and VantageScore

Posted by Matt Holmes

Dec 5, 2019 1:00:00 PM

FICO and VantageScore Differences

FICO® and VantageScore® are the two biggest credit-scoring models in the business, so it’s important that mortgage applicants (and lenders) understand the similarities and differences between each. Here’s what you should know about the two.

Read More

Topics: Credit Score, credit history, Credit Bureau, FICO, Credit Report, VantageScore

CFPB Announces $700M Settlement in Equifax Data Breach

Posted by Phil Hall

Jul 24, 2019 9:27:00 AM

Data Facts wants to be your resource for important industry information, which is why we periodically share breaking news in addition to our regular blog posts. This article originally appeared on the National Professional Mortgage Magazine website and was written by Phil Hall. 
The Consumer Financial Protection Bureau (CFPB) and a coalition of attorneys general from 48 states, the District of Columbia, and the Commonwealth of Puerto Rico has reached   a $700 million settlement with Equifax stemming from the 2017 data breach of the Atlanta-headquartered consumer credit reporting company.
Read More

Topics: Data Facts blog, Data Breach, Credit Bureau, CFPB, Mortgage lenders, Credit Report

Credit Bureaus Selling Borrower's Info? YES! But, Data Facts Can Help

Posted by datafactssolutions

Dec 3, 2015 9:02:30 AM

Mortgage Trigger Data is created when a borrower fills out a 1003 (mortgage application), and has their credit report pulled. This creates a credit inquiry event which is flagged on the borrower’s credit record.

The credit bureaus aggregate all of the flagged records on a daily basis and make the information available to paying marketers as a “trigger” file within 24-48 hours of the original mortgage application.  YIKES!  And yes, in case you are wondering, this is a totally legal practice.

Read More

Topics: credit reports, Credit Freeze, Mortgage triggering, Opt Out PreScreen, Credit Bureau

Why Are My FICO Credit Scores Different?

Posted by Jennifer Hamby

Sep 8, 2015 8:00:00 AM

If you’ve recently checked your FICO credit scores (Equifax, Experian and Transunion), you may have noticed that your credit score varies between the three. After thoroughly reviewing your credit report, you may be asking yourself, “Why are my 3 FICO credit scores different?”

Read More

Topics: credit reports, Mortgage loan, Credit Score, Credit Bureau, FICO, Understanding Credit Scores

Must Know Tips To Protect Your Credit During A Divorce

Posted by Jennifer Hamby

Aug 20, 2015 9:47:51 AM

In the unfortunate event that you get a divorce, worrying about your credit score may be the last thing on your mind. However, even during the most trying times of our lives, the world keeps spinning and the fact is, divorce can greatly impact your finances and credit history.  With close to 50% of all marriages ending in divorce, and divorce finalization taking close to 1 year to complete, protecting your credit along the way is critical to your financial future. 

Below are some helpful tips on how to get thru a divorce without damaging your credit.

Read More

Topics: credit reports, divorce, Credit Score, credit cards, Credit Bureau

What Millennials NEED to know about Mortgages

Posted by Jennifer Hamby

May 20, 2014 10:25:00 PM

A recent study conducted by the Consumer Federation of America and VantageScore Solutions found that 18-34 year-olds are far less informed than all other adult Americans on credit knowledge and understanding.  Only 6% could accurately pick out the factors that actually impact a credit score, and less than half of all millennials have ever even bothered to order a copy of their free credit report.

Read More

Topics: credit checks, credit reports, Millennials, Mortgage, Credit Score, Improve Credit Score, credit cards, credit history, Credit Bureau

STOP! Don't Mess Up Your Home Mortgage!

Posted by datafactssolutions

Feb 26, 2014 10:25:00 AM

You’ve gone to your lender and been approved for a home mortgage. You’ve found the home of your dreams. But just when you are about to close, the lender says you are no longer approved. What happened?

Read More

Topics: Data Facts blog, wordpress blog, Data Facts, Mortgage, lending solutions, Credit Score, Mortgage compliance, finances, credit cards, credit history, Compliance, Credit Bureau, mortgage news, FICO

Getting Married? How Marriage Affects Your Credit

Posted by datafactssolutions

Feb 14, 2014 7:11:00 AM

Today, February 14th is the most romantic day of the year. In fact over 2.2 million people will get married today and millions more will become engaged. Getting married is a wonderful moment in life, but it can affect many things, including your credit. So in the spirit of the holiday that love built, we’ve decided to debunk some credit myths associated with marriage, and its effect on credit.

Read More

Topics: Data Facts blog, Data Facts, divorce, Credit Score, finances, Improve Credit Score, credit cards, Credit Bureau

8 Ways to Build a GREAT Credit Score

Posted by datafactssolutions

Feb 6, 2014 10:55:00 AM

Establishing a good credit history has never been as important as it is today. It's not just that you'll need good credit to get decent rates when you're ready to buy a home or a car. Your credit history can determine whether you get a good job, a decent apartment or reasonable rates on insurance. One seemingly minor misstep -- a late payment, maxing out your credit cards, applying for too much credit at once -- can haunt you for years. If you're just starting out, you have a once-in-a-lifetime opportunity to build a credit history the right way. Here's what to do, and what to avoid.

Read More

Topics: credit checks, credit reports, Credit Score, credit cards, credit history, Credit Bureau, FICO

Pay off your credit card every month? Your credit report may still show a balance

Posted by datafactssolutions

Oct 13, 2011 8:45:00 AM

To all you consumers who pay your credit card balances in full every month; good for you!

Not carrying a balance on a credit card is one of the best financial maneuvers you can make for yourself. This ensures that you won’t rack up expensive finance charges, nor will you find yourself deep in credit card debt.


Read More

Topics: credit checks, credit reports, Credit Score, Improve Credit Score, credit cards, credit history, Credit Bureau, Understanding Credit Scores

Download the Ultimate Guide to Understanding Credit Scoring

Subscribe to Email Updates

Follow Us:

Recent Posts

Posts by Topic

see all
Go to Top