CREDIT INQUIRIES (299 downloads) The Fair Credit Reporting Act (FCRA) outlines specifically who can see your credit profile. Businesses must have a “legitimate business need,” and a “permissible purpose,” as stated in the federal law to obtain your credit file. Otherwise
CREDIT PROFILE (273 downloads) Your credit profile details your credit history as it has been reported to the credit reporting agencies by lenders who have extended credit to you. Your credit profile lists what types of credit you use, the length of time your accounts have
CREDIT REPORTING AGENCIES (253 downloads) Credit Reporting Agencies collect information about you and your credit history from public records, your creditors and other reliable sources. These agencies make your credit history available to your current and prospective creditors and
CREDIT SCORING AND HOW IT WORKS (316 downloads) Credit scoring is a statistical method that lenders use to quickly and objectively assess the credit risk of a loan applicant. The score is a number that rates the likelihood you will pay back a loan. Scores range from 350 (high risk) to 950 (low risk).
FIXING CREDIT REPORT ERRORS (259 downloads) You have the right, under the Fair Credit Reporting Act, to dispute the completeness and accuracy of information in your credit file. When a credit reporting agency receives a dispute, it must reinvestigate and record the current status of
HOW TO IMPROVE YOUR CREDIT (628 downloads) If you have had credit problems, be prepared to discuss them honestly with a mortgage professional. Responsible mortgage professionals know there can be legitimate reasons for credit problems, such as unemployment, illness or other
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