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Category Archives: Credit Issues : Credit Scores

Credit Bureaus Make Money Selling Your Personal Data

There are over 200 million consumer credit files stored by the three major credit bureaus, Equifax, Experian and TransUnion according to the Consumer Financial Protection Bureau (CFPB).  Those 200 million plus files represent about 63% of the U.S. population. The credit bureaus major source of revenue is to sell information from those files to just… Continue Reading

Credit Reporting Bureaus Track More than Your Credit History

Besides tracking your credit history including payment history, how much debt you have and your use of revolving credit, Credit Reporting Agencies (CRAs) track much more information that has nothing to do with your credit history. While this data is tracked it has nothing to do with calculating FICO credit scores, a component of all… Continue Reading

The Four Pillars of Mortgage Underwriting

You want to borrow money to buy a new house or refinance your current loan.  What are the criteria that every lender uses to judge your ability to get a loan request approved? Imagine if you were lending someone your own money.  Not a family member.  Not a friend.  Someone you didn’t know.  What would… Continue Reading

Mortgage Insurance Could Be Troubled Borrower’s Best Friend

Borrowers who had to spend a little extra to purchase mortgage insurance (MI) on behalf  of their new lender because they didn’t have a big enough down payment may now find that extremely worthwhile.  Especially if they get behind and need some help with lender intercession, that MI company could be your best friend. One… Continue Reading

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