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All industries have unique terminologies including the credit industry.  A common term used to as a description of a credit report is “thin,” which describe the amount of information housed by the report. What is a thin credit report, and do you have one? A thin credit report is lacking

There is a company that can help your client get loans with the affordable interest rates they have been missing out on. If your clients become a member which is FREE,  they will be recognized and respected by lenders for the financially responsible person they are. This company is call

Remember the $3.6 billion settlement the government made with huge lenders accused of wrongful evictions and other abuses? Wronged homeowners are beginning to get their settlement checks in the mail, only to find that some of them bounce. That’s right. After more than two years of waiting for the checks,

There is language in the Fair Credit Reporting Act that allows the credit reporting agencies an exclusion to the requirement to not maintain negative information on credit reports after 7 to 10 years. Here is it: “a credit transaction involving, or which may reasonably be expected to involve, a principal

There are many different versions of the FICO credit score. Each of the three U.S. credit bureaus – Equifax, Experian and TransUnion – has many different version of the FICO score, which has been developed specifically for them based upon their data. In addition to the classic FICO score there are

There are some gurus that believe that one should have a zero credit score and get a manual underwriting for obtaining a mortgage instead of going through an automated one.  We say nonsense!!!! Here is why:  if you get an automated response, you will get just that. Someone plugged in

Based on a fresh look at the national distribution of FICO® 8 Scores, it appears that the profile of credit risk for U.S. consumers, while still mixed, may be slowly returning to a prerecession pattern. People with higher FICO® Scores have generally increased their revolving credit usage since 2010. This

Credit cards sent out letters to customers explaining what changes they should expect due to the CARD Act going into effect.   The letter will explain how the credit card company won’t be putting clients into a default rate for being a few days late with a minimum payment.  The letter

The worst of the housing crisis seems to be behind us. (After all, the number of foreclosures continues to fall.) But it isn’t all good news just yet. The most recent data from CoreLogic, a real-estate research firm, found that short sales (where a home is sold for less than

Picture the scene – your client is getting ready to close on their home loan when the loan officer calls to say your credit score went down 20 points from when they originally pulled their credit. Now that 20 point decline means the difference between putting 10% down on their