Credit report - Free online credit report - Online credit report - Credit report repair - Free credit report - Credit bureau report - Consumer credit report
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To better understand the issues relating to your legal situation or problem, our legal information and other law related facts may be of interest to you
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About credit scoring.
Most anyone who has obtained a home mortgage in the past 5 years or so has heard about credit scoring. How many of you have been told "your scores are great", or "if your score were 10 points higher, your rate would be better by 1/4 point"? Probably most of you.
Most people know that most creditors use Credit Report agencies for obtaining information on a person when they have applied for any type of financing. However, there are actually two levels of Credit Reporting agencies. There are three major repositories of credit and background information. They are Equifax, Experian and TransUnion. When someone obtains credit, the creditor reports the payment history to these repositories. This is usually done monthly but may be done on an irregular basis. These repositories simply accept the information as it comes in electronically and they DO NOT check the accuracy of the information.
The credit repositories and other agencies also maintain other background information on every person in the country who has a Social Security number or other identifying information. The other agencies may include the Department of Motor Vehicles, the Medical Information Board, the FBI, local law enforcement agencies, the county recorders for each county (public records repositories), etc. Even the mortgage industry has a central repository for borrowers and lenders who may have been involved in fraudulent activities in the making of mortgage loans.
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Return to all Credit Report legal information
Legal Articles about Credit Report
Credit Report Frequently Asked Questions
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Credit report correction techniques
Many times the credit bureau is busy and does not handle your dispute properly ...
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Basic rights under The Fair Credit Reporting Act
All Federal Laws are in consumer's favor and you will have the advantage ...
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Credit Scoring and the Lending Industry
Credit scoring is crucial to your ability to get a loan. When you apply for a mortgage, your lender ...
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Mel Watt: Whether GSEs Should Use Alternative Credit Scoring ...
Mortgageorb
Whether government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac should pave the way for the use of alternative credit scoring models in the ...
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New FICO Credit Scores Provide Lenders Opportunity to Expand Access to Credit in India for Nearly 350 Million
PR Newswire (press release)
According to The World Bank, nearly 350 million adults in India have no access to mainstream lending opportunities due to insufficient data. FICO® Score for India, which uses data from any of the major credit bureaus, brings proven technology in ...
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