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:
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Topics:
Data Facts blog,
wordpress blog,
Data Facts,
Credit Score,
Collection accounts,
Collections,
credit cards,
credit history,
mortgage lending services
Several components play into the fact there's no easy sailing for mortgage professionals.
2017 poses especially unique challenges. Being prepared with the right tools and education is key to being successful in today's mortgage industry.
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Topics:
Millennials,
Data Facts blog,
Potential Millennial homebuyers,
Mortgage Lending
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.
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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.
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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
Looking for a credit card? If so, you’ll need to shop around. Do some research to compare costs, features and drawbacks before settling on a single card.
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Topics:
Data Facts blog,
lending solutions,
Credit Score,
finances,
credit cards,
credit history,
FICO
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?
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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
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.
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Topics:
Data Facts blog,
Data Facts,
divorce,
Credit Score,
finances,
Improve Credit Score,
credit cards,
Credit Bureau
The prevalence of mortgage fraud is still a scary fact.
According to the FBI, 13 billion dollars were lost in fraudulent mortgage loans in 2012. Over 60% of mortgage fraud includes ID discrepancies and in most cases the fraudster uses a mixture of accurate and “borrowed” information. These crooks operate this way hoping that lenders will not check every bit of information and the loan will be approved.
Luckily, there are reports available to mortgage lending companies to combat this issue, and offer some protection. This can help preserve the bottom line.
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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
