Your credit report affects you in many areas of your life – not just when you want to apply for a new loan. It could affect your chances to get a job or even secure new services. Because of this, you need to keep a close eye on your credit report and take care of any credit report errors you Read more
Fannie, Freddie to Update Credit Score Reqs, Seek Stakeholders Input
The Federal Housing Finance Agency is seeking the opinion of mortgage lenders, professionals, and relevant housing stakeholders regarding Fannie Mae and Freddie Mac’s update on their credit score requirements.This update entails a shift in the use of Classic FICO scores to another scoring Read more
Five Common Refinancing Blunders and How to Avoid Them
When you think of refinancing, you automatically think of saving. It allows you to lower your current interest rate and reduce the loan term. Some refinancing options even allow some cash-out. The goal is to save more money.While this is true, it is not always that when you refinance you Read more
Off the Record: Consumers Will See Less of Derogatory Marks on Credit Reports
Credit Scores Could Receive a Boost as a ResultEquifax, Experian, and TransUnion will not include derogatory marks, civil judgments and tax liens on credit reports if they don’t meet new reporting standards. While the credit bureaus deemed the move to result in modest impacts to credit scores, Read more
Whose FICO Score do Lenders Use on a Joint Refinance?
When you marry your spouse, you marry his credit. Good or bad, you pay the price. Even if you have picture perfect credit, your spouse’s credit can make a joint refinance a nightmare. It is not uncommon to see one partner with a high credit score and another with a low credit score. It is also not Read more
