Data Facts Lending Solutions Blog

News Release: Senators Introduce Bill to Help Americans Struggling with Medical Debt

Posted by datafactssolutions

Jan 30, 2013 11:37:00 AM

Financial_Impact

Medical Debt Responsibility Act helps consumers whose credit scores have been damaged by medical emergencies

WASHINGTON, DC – January 28: Oregon’s Senator Jeff Merkley introduced legislation to prohibit companies from using paid off or settled medical debt in assessing consumer credit scores. The Medical Debt Responsibility Act, which is cosponsored by Senators Dick Durbin (D-IL), Chuck Schumer (D-NY), Tom Harkin (D-IA), Sherrod Brown (D-OH), Robert Menendez (D-NJ) and Richard Blumenthal (D-CT), could help as many as 75 million Americans.

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Topics: Data Facts blog, wordpress blog, Credit Score, Collection accounts, Collections, credit history, mortgage news

4 Tips for Reviewing Your Credit Report

Posted by datafactssolutions

Sep 21, 2012 12:39:00 PM

You have probably read the advice everywhere: CHECK YOUR CREDIT REPORT! However, what does that really mean? What are you supposed to be checking?

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. Start with these tips to make certain you are making the most out of the credit report:

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

Social Security Numbers and Mortgage Fraud

Posted by datafactssolutions

Aug 24, 2012 8:38:00 AM

The social security card looks like an innocent little thing. However, its 9 digit number packs a powerful wallop during the mortgage process. People who commit mortgage fraud often attempt to utilize other people’s socials to acquire mortgage loans.

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Topics: Data Facts blog, Identity theft 2012, Identity theft, wordpress blog, Data Facts, Mortgage, mortgage fraud

7 Steps to Protect Your Finances During a Divorce

Posted by Susan McCullah

Aug 1, 2012 8:42:00 AM

We all hope it never happens to us. The “D” word. Divorce.

It's a sad fact that lots of marriages end in divorce, and sometimes the relationship is contentious and hostile. If you are facing divorce, protect yourself and your finances with these simple tips:

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Topics: Data Facts blog, wordpress blog, Mortgage loan, Mortgage, divorce, Credit Score, Collection accounts, Collections, finances, credit cards, credit history, Strong password, 7 steps, Password protection

The Sticky Truth about Collection Accounts

Posted by datafactssolutions

Jul 6, 2012 10:11:00 AM

Collection accounts can be a huge headache for consumers, and can wreak havoc on a credit score.

Debt collection in the United States is estimated to be a 12 billion dollar industry. The way it works, in a nutshell, is when an account becomes overdue to the point the creditor does not think they will get their money, they sell the debt to collection agencies for pennies on the dollar. The collection agency then attempts to recover what is owed.

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Topics: Data Facts blog, wordpress blog, Data Facts, Fair Debt Collection Act, collection agency, Credit Score, Collection accounts, Collections, credit history

Data Facts Answers Question About Authorized User Accounts

Posted by datafactssolutions

May 30, 2012 8:36:00 AM

Question: “In the past, our mortgage company has encouraged borrowers who have either little credit or are rebuilding their credit to become an authorized user on the account of a spouse, parent, or sibling. Recently, however, we have heard that authorized user accounts are no longer factored into a person’s credit score, and will not help increase a credit score. What is true? Help!”

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Topics: Data Facts blog, wordpress blog, Data Facts, authorize user accounts, Credit Score, authorized user, Improve Credit Score, piggybacking, credit cards, credit history, FICO

Credit Score Success from Scratch; a Simple Recipe

Posted by datafactssolutions

May 22, 2012 8:35:00 AM

A high credit score is like a homemade meal; it takes time, patience, and cannot be whipped up instantly. Let’s look at the recipe to build a great credit score from scratch:

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Topics: Data Facts blog, wordpress blog, Data Facts, Mortgage loan, Mortgage, Credit Score, Collection accounts, Collections, Improve Credit Score, credit cards, credit history

From Data Facts: A Quick Check of Your Compliance Standards

Posted by datafactssolutions

May 10, 2012 10:50:00 AM

Red tape, bureaucracy, paperwork! Whatever you want to call them, compliance rules and regulations can be time consuming and confusing.

However, complying is very important, and should be a top priority. The penalties for non-compliance are just too stiff to ignore. Here are a few tips to help make sure you (as a mortgage lender) are in compliance with federal and state regulations. *

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Topics: Data Facts blog, FCRA, wordpress blog, Data Facts, Mortgage loan, Mortgage, Mortgage compliance, Compliance, Password protection

April is Financial Literacy Month: Numbers and Websites You Should Know

Posted by datafactssolutions

Apr 24, 2012 10:41:00 AM

In the spirit of Financial Literacy Month, Data Facts has compiled a list of very important numbers and websites for consumers.

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Topics: Data Facts blog, FCRA, wordpress blog, Data Facts, Credit Score, Financial literacy month, credit cards, Do not call list

FHA Changes Their Stance On Collection Accounts…..for now

Posted by datafactssolutions

Apr 10, 2012 9:55:00 AM

FHA had decided to implement a new rule that would not provide home loans to applicants with collections of over $1000, unless those balances were paid off before closing.

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Topics: Data Facts blog, wordpress blog, Data Facts, Mortgage loan, Mortgage, Credit Score, Collection accounts, Collections, credit history, FHA

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