There’s a lot of myths and misconceptions in the credit universe (See our recent blog on charge-offs and collections), and we’re always here to help quash the controversy. Today’s misconception we’d like to address: The oft-cited “30% Rule” of credit utilization.

Topics: Credit Score, credit history, Credit Report

According to a new study from Experian, the average American FICO® score hit a record high of 703 in 2019.

Topics: Credit Score, credit history, Credit Report

In January, Fair Isaac announced it would once again make changes to the criteria that determines your FICO score. Historically, scoring changes have led to various consumer outcomes, and this update is shaping up to have its own share of winners and losers. So who are they, and what can you expect? 

Topics: Credit Score, credit history, Credit Report

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

This article was originally posted at Washington's Top News by U.S. News and World Report, and can be accessed here.

If you’re one of the 800,000 federal employees who are not getting paid during the government shutdown, you’re in a tough spot, for sure.

Most likely, you’ve morphed into survival mode, which may or may not include thinking about your credit score. I totally get that. But what if I told you it’s possible to get through this with an (almost) intact credit score?

Topics: credit cards, credit history, medical debt, Credit Report

 In light of the Equifax security breach, consumers are concerned about their credit report. Advice is everywhere on how to handle this issue. Regardless of whether or not you decide to freeze your credit, you need to CHECK YOUR CREDIT REPORT!

So, what do we mean by that? What are you supposed to be checking?

As a leading mortgage lending services provider, here are our suggestions:

While pulling your credit report at least once a year is very good advice, a person needs to know what to look for when reviewing their information.

You can actually check your credit 3 times a year at no charge.

Goto www.annualcreditreport.com which is a website sponsored by the three credit bureaus. You can pull one bureau once a year for free. Simply enter your information and order a one-bureau credit file.

Then what? 

Start with these tips to make certain you understand the information on your credit report:

Topics: Data Facts blog, wordpress blog, Data Facts, Credit Score, Collection accounts, Collections, credit cards, credit history, mortgage lending services

December is a time for families and friends to come together over the holidays. However, the last month of the year can also be a big budget buster that can leave you broke and in debt if you aren’t careful.

We have created a breakdown of mistakes smart people make over the holidays that result in January being hard to bear. Avoiding these actions can help you make certain you roll into January with some money left in your pocket and your credit score intact.

Topics: Data Facts blog, wordpress blog, Credit Score, finances, credit cards, Holiday tips, credit history, Budget

In today’s financial climate, it is becoming more evident by utilizing bundled services from a single provider Lenders will be able to serve clients more effectively, profitably and will emerge as industry leaders.

Why should you bundle services? First of all, one vendor equals fewer headaches. It standardizes operations and saves time. You don’t have to call, email and wait for responses from multiple vendors. Secondly, it builds a stronger relationship. This makes for a more positive overall experience. Lastly, it helps you to stay in compliance. Compliance is ALWAYS a top priority. Bundling services minimizes the risk of being out of compliance by having all your paperwork from ONE source. Your chosen vendor should be constantly providing compliance information for your records.

Topics: Data Facts blog, Identity theft 2012, Identity theft, FCRA, wordpress blog, Data Facts, Mortgage loan, Mortgage, Credit Score, Mortgage compliance, mortgage fraud, AVM's, Improve Credit Score, credit cards, credit history, Automated Valuation Model, Compliance, mortgage news

Want to save thousands of dollars on all your biggest purchases?  Then there’s only one thing you need to do: MAINTAIN GOOD CREDIT

Today's economy runs on credit. If you want to get a mortgage loan for a house, or a student loan to pay for college, or if you simply want to purchase lunch, or gas on a credit card, somewhere a company is extending credit to you based on your creditworthiness.  Your “creditworthiness” is defined by your three-digit credit score and is the key to your financial life.  

Topics: credit reports, Credit Score, Improve Credit Score, credit cards, credit history

Confucius say: Beware scorned spouse with shared credit.

Maybe the Chinese thinker and philosopher didn't actually say those lines, but he should have. Your credit sits on dangerous ground when you and your spouse decide to split up.

Topics: Identity theft, credit reports, divorce, credit history